Indian Mound, Tennessee Property Taxes
The median property tax rate in Indian Mound, TN is 0.59%, which is significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $103,750 in Indian Mound, the typical annual property tax bill amounts to $626, well below the national median of $2,690. Property taxes in Indian Mound 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 Indian Mound'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 Indian Mound or another part of Stewart County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Indian Mound, 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 Indian Mound Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Indian Mound with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Indian Mound to estimate your property tax bill. This valuable tool helps you comprehend potential tax liabilities. For those interested in neighborhood-level trends, further localized information is available by scrolling down. Your property’s assessed value is the value assigned by Stewart County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Indian Mound, Tennessee
Property taxes in Indian Mound, Tennessee, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Indian Mound is 0.59%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Indian Mound set these rates annually, and they can vary across different neighborhoods. Each year, Indian Mound 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 Indian Mound's effective property tax rate to other areas in Stewart County and the national median. For comparison, the zip code 37079 in Stewart County has both the highest and lowest median property tax rate of 0.59%. Understanding how these areas compare with Indian Mound provides valuable insights into the varying tax landscape across Stewart County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Indian Mound Tax Rate
0.59%
Average Stewart County Tax Rate
0.59%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Indian Mound, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37079 | 0.59% | 0.59% | 0.59% | 0.59% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Indian Mound, Tennessee
In Indian Mound, 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 Stewart 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 Indian Mound, 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 Indian Mound helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 37079, with a median tax bill of $626.
Average Indian Mound Assessed Value
$103,750
Average Stewart County Assessed Value
$102,200
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Indian Mound, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37079 | $34,000 | $63,250 | $103,750 | $169,900 | $245,010 |
Source: Ownwell
Property Tax Bills Across Indian Mound, Tennessee
In Indian Mound, Stewart 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 Indian Mound is $103,750. Local tax rates are applied to this assessed value to determine the annual tax bill. For homeowners in Indian Mound, the tax bills can vary significantly. The 25th percentile tax bill is approximately $384, while the 75th percentile tax bill reaches up to $1,065. At the 90th percentile, homeowners might see tax bills as high as $1,532. These tax bills are influenced by several factors, including the property’s assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, homeowners in Indian Mound may find their tax rates to be relatively reasonable. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Indian Mound Tax Bill
$626
Average Stewart County Tax Bill
$644
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Indian Mound, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37079 | $200 | $384 | $626 | $1,065 | $1,532 |
Source: Ownwell