Shiloh, Tennessee Property Taxes
The median property tax rate in Shiloh, TN is 0.39%, significantly lower than both the national median of 0.99% and Tennessee's state median of 0.64%. With a median home value of $139,000 in Shiloh, the typical annual property tax bill is $548, well below the national median of $2,690. Property taxes in Shiloh are calculated based on the assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Navigating Shiloh's property tax system, exploring available exemptions, and finding opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Shiloh or another part of McNairy County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shiloh, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$542
Ownwell’s Shiloh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shiloh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shiloh to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Shiloh, Tennessee
Property taxes in Shiloh, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shiloh is 0.39%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Shiloh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shiloh estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Shiloh's effective property tax rate to other counties in Tennessee and the national median. For comparison, the highest median property tax rate in Tennessee is in Williamson County, with a rate of 0.68%, while the lowest median tax rate is in Hancock County, at 0.31%. Understanding how these areas compare with Shiloh provides valuable insights into the varying tax landscape across McNairy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shiloh Tax Rate
0.39%
Average Mcnairy County Tax Rate
0.39%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shiloh, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38376 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Shiloh, Tennessee
In Shiloh, Tennessee, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the McNairy County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Shiloh, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Shiloh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 38376, with a median tax bill of $548.
Average Shiloh Assessed Value
$139,000
Average Mcnairy County Assessed Value
$107,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shiloh, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38376 | $38,320 | $67,300 | $139,000 | $200,400 | $311,640 |
Source: Ownwell
Property Tax Bills Across Shiloh, Tennessee
In Shiloh, property tax bills are calculated based on the assessed value of the property, which is derived from the market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Factors such as property location, size, and improvements can influence the assessed value. For homeowners in Shiloh, the median home price is $139,000. The tax bills can vary widely, with the 25th percentile tax bill being $265 and the 75th percentile reaching $790. At the 90th percentile, tax bills can go up to $1,228. The highest and lowest median tax bills in the area are both $548, which falls within the zip code 38376. Compared to the national median property tax rate of 0.99%, Shiloh's tax rates can be relatively moderate, offering some relief to homeowners. Understanding how these factors interplay helps homeowners anticipate and manage their property tax obligations effectively.
Average Shiloh Tax Bill
$548
Average Mcnairy County Tax Bill
$471
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Shiloh, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38376 | $184 | $265 | $548 | $790 | $1,228 |
Source: Ownwell