Waynesboro, Tennessee Property Taxes
The median property tax rate in Waynesboro, 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 Waynesboro at $265,350, the typical annual property tax bill amounts to $1,523, which is well below the national median of $2,690. Property taxes in Waynesboro are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Waynesboro'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 Waynesboro or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waynesboro, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$1,512
Ownwell’s Waynesboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waynesboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waynesboro 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 Waynesboro, Tennessee
Property taxes in Waynesboro, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waynesboro is 0.57%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Waynesboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waynesboro 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 Waynesboro's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38485 zip code has the highest median property tax rate of 0.57%, while the 38485 zip code also has the lowest median tax rate of 0.57%. Understanding how these cities compare with Waynesboro 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 Waynesboro 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 Waynesboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38485 | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Waynesboro, Tennessee
In Waynesboro, 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 local 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 Waynesboro, 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. The median home price in Waynesboro is $265,350, with tax bills ranging from $945 at the 25th percentile to $2,448 at the 90th percentile. The highest and lowest median tax bills are both $1,523, found in the 38485 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waynesboro Assessed Value
$265,350
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 Waynesboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38485 | $104,270 | $164,675 | $265,350 | $366,025 | $426,430 |
Source: Ownwell
Property Tax Bills Across Waynesboro, Tennessee
In Waynesboro, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the home's market value. For homeowners in Waynesboro, various factors such as property size, location, and improvements can influence the assessed value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Homeowners in Waynesboro experience a range of property tax bills. The 25th percentile tax bill is approximately $945, while the 75th percentile reaches around $2,101. At the higher end, the 90th percentile tax bill is about $2,448. Comparing this to the national median property tax rate of 0.99%, Waynesboro's property taxes can vary significantly depending on the specific property characteristics. These property tax bills can have a substantial impact on homeowners, influencing their overall housing costs and financial planning. Understanding these factors helps homeowners anticipate their annual tax liabilities and manage their budgets more effectively.
Average Waynesboro Tax Bill
$1,523
Average Perry County Tax Bill
$432
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Waynesboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38485 | $598 | $945 | $1,523 | $2,101 | $2,448 |
Source: Ownwell