Huntsville, Tennessee Property Taxes
The median property tax rate in Huntsville, TN is 0.62%, which is lower than both the national median of 0.99% and Tennessee's state median of 0.64%. With the median home value in Huntsville at $60,350, the typical annual property tax bill is $382, significantly less than the national median of $2,690. Property taxes in Huntsville 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 Huntsville'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 Huntsville or another part of Scott County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Huntsville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$374
Ownwell’s Huntsville Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Huntsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Huntsville 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 Huntsville, Tennessee
Property taxes in Huntsville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huntsville is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Huntsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huntsville 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 Huntsville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37756 zip code has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Huntsville provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Huntsville Tax Rate
0.62%
Average Scott County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huntsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37756 | 0.62% | 0.62% | 0.62% | 0.62% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Huntsville, Tennessee
In Huntsville, 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 Scott County Assessor's Office 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 Huntsville, 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 Huntsville 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 $382, found in the zip code 37756.
Average Huntsville Assessed Value
$60,350
Average Scott County Assessed Value
$69,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Huntsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37756 | $21,000 | $36,275 | $60,350 | $97,975 | $162,450 |
Source: Ownwell
Property Tax Bills Across Huntsville, Tennessee
In Huntsville, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in Huntsville is $60,350. Property taxes are then determined by applying the local tax rate to the assessed value. For example, homeowners in the 25th percentile can expect to pay around $225 annually, while those in the 75th percentile might see bills closer to $650. The 90th percentile tax bill can reach up to $1,077. Factors influencing the tax bill include the home's market value, the local assessment ratio, and the tax rate set by Scott County. These elements combined determine how much a homeowner will owe. Compared to the national median property tax rate of 0.99%, Huntsville's tax bills are relatively lower, providing some financial relief to homeowners. Understanding these factors helps residents anticipate their annual property tax obligations and manage their household budgets effectively.
Average Huntsville Tax Bill
$382
Average Scott County Tax Bill
$471
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Huntsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37756 | $131 | $225 | $382 | $650 | $1,077 |
Source: Ownwell