Lobelville, Tennessee Property Taxes
The median property tax rate in Lobelville, TN is 0.57%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Lobelville at $69,200, the typical annual property tax bill amounts to $402, which is well below the national median of $2,690. Property taxes in Lobelville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Lobelville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Lobelville or another part of Perry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lobelville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$394
Ownwell’s Lobelville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lobelville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lobelville 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 Lobelville, Tennessee
Property taxes in Lobelville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lobelville is 0.57%, significantly lower than the U.S. national median of 0.99%. Local government entities within Lobelville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lobelville 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 Lobelville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37097 has both the highest and lowest median property tax rate of 0.57%. Understanding how these areas compare with Lobelville provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lobelville Tax Rate
0.57%
Average Perry County Tax Rate
0.57%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lobelville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37097 | 0.57% | 0.57% | 0.57% | 0.57% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Lobelville, Tennessee
In Lobelville, 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 Perry 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 Lobelville, 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 Lobelville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $402, found in the 37097 zip code.
Average Lobelville Assessed Value
$69,200
Average Perry County Assessed Value
$74,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lobelville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37097 | $19,880 | $36,900 | $69,200 | $125,500 | $197,740 |
Source: Ownwell
Property Tax Bills Across Lobelville, Tennessee
In Lobelville, Perry County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Lobelville is $69,200. Property taxes are determined by multiplying the assessed value by the local tax rate. For example, homeowners in the 25th percentile face tax bills around $214, while those in the 75th percentile see bills of about $739. The highest median tax bill in the area is $402, found in zip code 37097. Several factors influence property tax bills, including home value, local tax rates, and any applicable exemptions or deductions. These taxes directly affect homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Lobelville offers relatively affordable property taxes, making it an attractive option for homeowners. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances effectively.
Average Lobelville Tax Bill
$402
Average Perry County Tax Bill
$432
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Lobelville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37097 | $116 | $214 | $402 | $739 | $1,157 |
Source: Ownwell