Holiday, Tennessee Property Taxes
The median property tax rate in Holiday, TN is 0.87%, which is lower than the national median of 0.99% but higher than Tennessee's state median of 0.64%. With a median home value of $253,200 in Holiday, the typical annual property tax bill amounts to $2,194, falling below the national median of $2,690. Property taxes in Holiday are based on the tax assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural land. By understanding Holiday's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're in the heart of Holiday or another part of Anderson County, gaining insight into the local property tax system is crucial for maximizing financial benefits.
Last Updated June 14, 2024
Holiday, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$2,203
Ownwell’s Holiday Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holiday with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holiday 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 Holiday, Tennessee
Property taxes in Holiday, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holiday is 0.87%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Holiday set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holiday 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 Holiday's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 34691 has both the highest and lowest median property tax rate of 0.87%. Understanding how these cities compare with Holiday provides valuable insights into the varying tax landscape across Anderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holiday Tax Rate
0.87%
Average Anderson County Tax Rate
0.87%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holiday, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34691 | 0.87% | 0.87% | 0.87% | 0.87% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Holiday, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Holiday, Tennessee. 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 Anderson 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 Holiday, 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 Holiday helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Holiday is $253,200, with the highest and lowest median tax bills both recorded at $2,194 in the 34691 zip code.
Average Holiday Assessed Value
$253,200
Average Anderson County Assessed Value
$128,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holiday, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34691 | $253,200 | $253,200 | $253,200 | $253,200 | $253,200 |
Source: Ownwell
Property Tax Bills Across Holiday, Tennessee
In Holiday, Anderson County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. For homeowners in Holiday, the median home price is $253,200. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's market value, assessment ratio, and the local tax rate. In Holiday, the median property tax bill stands at $2,194, which is higher than the national median property tax rate of 0.99%. This means homeowners in Holiday might pay more compared to other regions. Understanding how property tax bills are calculated is crucial for homeowners, as it directly impacts their annual expenses. Higher property taxes can affect affordability and the overall cost of homeownership, making it essential for residents to stay informed about their local tax rates and property values.
Average Holiday Tax Bill
$2,194
Average Anderson County Tax Bill
$1,127
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Holiday, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34691 | $2,194 | $2,194 | $2,194 | $2,194 | $2,194 |
Source: Ownwell