Clarkrange, Tennessee Property Taxes
The median property tax rate in Clarkrange, TN is 0.49%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $41,600 in Clarkrange, the typical annual property tax bill is approximately $205, which is well below the national median of $2,690. Property taxes in Clarkrange are calculated based on the assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Clarkrange's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Clarkrange or another part of Overton County, comprehending the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Clarkrange, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$204
Ownwell’s Clarkrange Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarkrange with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarkrange 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 Clarkrange, Tennessee
Property taxes in Clarkrange, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarkrange is 0.49%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Clarkrange set these rates annually, and they can vary across different neighborhoods. Each year, Clarkrange 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 Clarkrange's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38553 has both the highest and lowest median property tax rate of 0.49%. Understanding how these areas compare with Clarkrange provides valuable insights into the varying tax landscape across Overton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clarkrange Tax Rate
0.49%
Average Overton County Tax Rate
0.49%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarkrange, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38553 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Clarkrange, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Clarkrange, Tennessee. 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 Overton 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 Clarkrange, 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 Clarkrange helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price in Clarkrange is $41,600, with tax bills ranging from $165 at the 25th percentile to $268 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 38553, at $205.
Average Clarkrange Assessed Value
$41,600
Average Overton County Assessed Value
$101,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clarkrange, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38553 | $28,720 | $33,550 | $41,600 | $49,650 | $54,480 |
Source: Ownwell
Property Tax Bills Across Clarkrange, Tennessee
In Clarkrange, Overton County, TN, property tax bills are determined primarily by the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Homeowners in Clarkrange can expect a median home price of $41,600. The tax rate is applied to the assessed value to calculate the annual tax bill. For instance, the 25th percentile tax bill is $165, while the 75th percentile tax bill is $245. The highest median tax bill recorded in the area is $205, which also happens to be the lowest median tax bill, indicating a consistent tax rate across the region. Factors such as property improvements, location, and market conditions can influence the assessed value, thus affecting the tax bill. Compared to the national median property tax rate of 0.99%, Clarkrange offers relatively lower property tax bills, which can be a financial relief for homeowners. This affordability can make homeownership more accessible and appealing in the region.
Average Clarkrange Tax Bill
$205
Average Overton County Tax Bill
$570
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarkrange, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38553 | $141 | $165 | $205 | $245 | $268 |
Source: Ownwell