Stewart, Tennessee Property Taxes
The median property tax rate in Stewart, TN is 0.59%, which is notably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Stewart at $84,100, the typical annual property tax bill amounts to $498, significantly below the national median of $2,690. Property taxes in Stewart are calculated based on the assessed value, which generally falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Stewart'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 Stewart or another part of the county, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stewart, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$496
Ownwell’s Stewart Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stewart with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stewart 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 Stewart, Tennessee
Property taxes in Stewart, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stewart is 0.59%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Stewart set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stewart 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 Stewart's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37175 has both the highest and lowest median property tax rate of 0.59%. Understanding how these areas compare with Stewart 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 Stewart 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 Stewart, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37175 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Stewart, Tennessee
In Stewart, 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 Stewart, 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. For example, the median home price in Stewart is $84,100, with tax bills ranging from $267 at the 25th percentile to $807 at the 75th percentile. 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 Stewart helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stewart Assessed Value
$84,100
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 Stewart, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37175 | $19,800 | $45,650 | $84,100 | $136,450 | $217,700 |
Source: Ownwell
Property Tax Bills Across Stewart, Tennessee
In Stewart, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, if the median home price is $84,100, the assessed value is typically a fraction of this amount, depending on local regulations. The property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property location, home improvements, and applicable exemptions. Homeowners in Stewart experience varying tax bills. At the 25th percentile, the tax bill is around $267, while at the 75th percentile, it rises to $807. The 90th percentile sees tax bills as high as $1,288. Despite these variations, the highest and lowest median tax bills in the area are both $498, found in zip code 37175. Compared to the national median property tax rate of 0.99%, Stewart's rates can offer some relief to homeowners, making it an attractive location for those looking to manage their property tax expenses effectively.
Average Stewart Tax Bill
$498
Average Stewart County Tax Bill
$644
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Stewart, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37175 | $117 | $267 | $498 | $807 | $1,288 |
Source: Ownwell