Greenfield, Tennessee Property Taxes
The median property tax rate in Greenfield, TN is 0.93%, slightly below the national median of 0.99% but significantly higher than the Tennessee state median of 0.64%. With the median home value in Greenfield at $60,700, the typical annual property tax bill is $460, which is far less than the national median of $2,690. Property taxes in Greenfield 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 Greenfield'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 Greenfield or another part of Weakley County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greenfield, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$565
Ownwell’s Greenfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenfield 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 Greenfield, Tennessee
Property taxes in Greenfield, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenfield is 0.93%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Greenfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenfield 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. Understanding how Greenfield's effective property tax rate compares to other areas within Weakley County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Greenfield Tax Rate
0.93%
Average Weakley County Tax Rate
0.49%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenfield, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38230 | 0.49% | 0.49% | 0.93% | 0.93% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Greenfield, Tennessee
In Greenfield, 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 Weakley 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 Greenfield, 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 Greenfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 38230, with a median tax bill of $460, while the lowest is also in 38230 with the same median tax bill of $460.
Average Greenfield Assessed Value
$60,700
Average Weakley County Assessed Value
$76,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenfield, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38230 | $25,080 | $39,100 | $60,700 | $99,350 | $163,420 |
Source: Ownwell
Property Tax Bills Across Greenfield, Tennessee
Property tax bills in Greenfield, located in Weakley County, TN, are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in this area is $60,700. To determine the tax bill, local authorities multiply the assessed value by the tax rate set by the county. For homeowners in Greenfield, property tax bills can vary significantly. The 25th percentile tax bill is $286, while the 75th percentile reaches $704, and the 90th percentile can be as high as $1,086. These figures are influenced by various factors, including property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Greenfield's property tax rates can be considered relatively moderate. Homeowners should be aware of these variations as they can affect budgeting and financial planning. Understanding how property taxes are calculated helps homeowners anticipate their annual expenses more accurately.
Average Greenfield Tax Bill
$460
Average Weakley County Tax Bill
$523
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenfield, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38230 | $165 | $286 | $460 | $704 | $1,086 |
Source: Ownwell