Oakdale, Tennessee Property Taxes
The median property tax rate in Oakdale, TN is 0.68%, slightly higher than the state median of 0.64% but below the national median of 0.99%. With a median home value of $85,500, the typical annual property tax bill in Oakdale amounts to $631, significantly lower than the national median of $2,690. Property taxes in Oakdale are calculated based on the tax assessed value, which generally falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Oakdale's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Oakdale or another part of Morgan County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oakdale, Tennessee 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 Oakdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oakdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oakdale 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 Oakdale, Tennessee
Property taxes in Oakdale, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakdale is 0.68%, notably lower than the U.S. national median of 0.99%. Local government entities within Oakdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakdale 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 Oakdale's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37829 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Oakdale provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oakdale Tax Rate
0.68%
Average Morgan County Tax Rate
0.68%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oakdale, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37829 | 0.68% | 0.68% | 0.68% | 0.68% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Oakdale, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Oakdale, TN. 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 Morgan 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. Assessment notices in Oakdale 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. Oakdale’s median home price is $85,500, with tax bills ranging from $346 at the 25th percentile to $1,481 at the 90th percentile. The highest and lowest median tax bills are both found in the 37829 zip code, amounting to $631. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Oakdale Assessed Value
$85,500
Average Morgan County Assessed Value
$87,650
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oakdale, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37829 | $22,800 | $46,700 | $85,500 | $137,500 | $210,500 |
Source: Ownwell
Property Tax Bills Across Oakdale, Tennessee
In Oakdale, TN, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the Morgan County property assessor and is a percentage of the property's market value. Homeowners can expect their tax bills to vary significantly depending on the value of their property and the specific tax rate applied. For instance, the median home price in Oakdale is $85,500, and property tax bills can range widely. At the 25th percentile, homeowners might pay around $346, while those in the 75th percentile could see bills as high as $1,008. At the 90th percentile, tax bills can reach up to $1,481. The highest and lowest median tax bills in the area both stand at $631, indicating some consistency within certain zip codes. Compared to the national median property tax rate of 0.99%, Oakdale’s rates and subsequent tax bills provide a useful benchmark for understanding how local property taxes can impact homeowners financially.
Average Oakdale Tax Bill
$631
Average Morgan County Tax Bill
$603
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakdale, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37829 | $158 | $346 | $631 | $1,008 | $1,481 |
Source: Ownwell