Meigs County Property Taxes
The median property tax rate in Meigs County is 0.42%, which is significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Meigs County, the typical annual property tax bill is $522, far below the national median of $2,690. Property taxes in Meigs County are calculated based on the assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Meigs County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Decatur or another part of Meigs County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Meigs County Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Meigs County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Meigs County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Meigs County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Meigs County, Tennessee
Property taxes in Meigs County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Meigs County is 0.42%, which is lower than the U.S. national median of 0.99%. Local government entities within Meigs County set these rates annually, and they can vary significantly between different areas within the county. Each year, Meigs County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Philadelphia has one of the higher property tax rates in Tennessee at 0.42%, while the city of Georgetown boasts one of the lowest at 0.42%. Analyzing how Meigs County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Meigs County Tax Rate
0.42%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Meigs County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Birchwood | 0.42% | 0.42% | 0.42% | 0.42% | 0.42% |
| Decatur | 0.42% | 0.42% | 0.42% | 0.42% | 0.50% |
| Georgetown | 0.42% | 0.42% | 0.42% | 0.42% | 0.42% |
| Niota | 0.42% | 0.42% | 0.42% | 0.42% | 0.42% |
| Philadelphia | 0.42% | 0.42% | 0.42% | 0.42% | 0.42% |
| Ten Mile | 0.42% | 0.42% | 0.42% | 0.42% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Meigs County, Tennessee
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Meigs County, TN. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Meigs County Appraisal District. The assessed value, however, 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. Assessment notices in Meigs County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, residents in Ten Mile face the highest median tax bill at $640, while those in Niota enjoy the lowest at $313. Being aware of these valuation processes in Meigs County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Meigs County Assessed Value
$118,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Meigs County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Birchwood | $31,150 | $56,050 | $116,900 | $236,375 | $447,350 |
| Decatur | $24,870 | $53,875 | $111,950 | $187,350 | $276,370 |
| Georgetown | $17,520 | $45,850 | $127,500 | $230,500 | $386,220 |
| Niota | $27,510 | $43,300 | $73,100 | $114,425 | $188,120 |
| Philadelphia | $52,840 | $95,200 | $101,700 | $103,700 | $125,000 |
| Ten Mile | $24,310 | $58,675 | $149,650 | $285,575 | $449,500 |
Source: Ownwell
Property Tax Bills Across Meigs County, Tennessee
In Meigs County, Tennessee, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners, understanding how these bills are determined is crucial. The assessed value is multiplied by the local tax rate to calculate the tax bill. Various factors, such as property location, improvements, and market conditions, influence the assessed value. Homeowners in Meigs County experience a range of property tax bills. For instance, the 25th percentile tax bill stands at $232, while the 75th percentile reaches $916. The 90th percentile tax bill can go up to $1,472. The highest median tax bill in the county is $640 in Ten Mile, whereas Niota has the lowest at $313. Compared to the national median property tax rate of 0.99%, Meigs County offers a relatively affordable property tax environment, benefiting homeowners by keeping annual expenses lower. This affordability can make Meigs County an attractive place for property investment and homeownership.
Average Meigs County Tax Bill
$522
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Meigs County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Birchwood | $128 | $225 | $512 | $1,035 | $1,971 |
| Decatur | $105 | $232 | $496 | $830 | $1,230 |
| Georgetown | $73 | $197 | $545 | $1,021 | $1,642 |
| Niota | $116 | $178 | $313 | $483 | $835 |
| Philadelphia | $223 | $402 | $429 | $438 | $528 |
| Ten Mile | $105 | $250 | $640 | $1,222 | $1,951 |
Source: Ownwell