Jacksboro, Tennessee Property Taxes
The median property tax rate in Jacksboro, TN is 1.16%, considerably higher than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Jacksboro, the typical annual property tax bill reaches $381, which is significantly lower than the national median of $2,690. Property taxes in Jacksboro are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Jacksboro'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 Jacksboro or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jacksboro, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$382
$355
Ownwell’s Jacksboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jacksboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jacksboro 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 Jacksboro, Tennessee
Property taxes in Jacksboro, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jacksboro is 0.64%, lower than both the Tennessee state median of 0.68% and the U.S. national median of 0.99%. Local government entities within Jacksboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jacksboro 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 Jacksboro's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37757 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Jacksboro 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 Jacksboro Tax Rate
1.16%
Average Anderson County Tax Rate
0.87%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jacksboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37757 | 1.16% | 1.16% | 1.16% | 1.16% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Jacksboro, Tennessee
In Jacksboro, 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 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 Jacksboro, 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 Jacksboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 37757 has both the highest and lowest median tax bill at $381.
Average Jacksboro Assessed Value
$32,950
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 Jacksboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37757 | $28,910 | $30,425 | $32,950 | $35,475 | $36,990 |
Source: Ownwell
Property Tax Bills Across Jacksboro, Tennessee
In Jacksboro, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For example, the median home price in Jacksboro is $32,950. The assessed value is then multiplied by the local tax rate to determine the final tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Jacksboro typically see tax bills ranging from $352 at the 25th percentile to $428 at the 90th percentile. The highest and lowest median tax bills are both $381 in the 37757 zip code, indicating a consistent tax rate across the area. Compared to the national median property tax rate of 0.99%, Jacksboro offers relatively affordable property taxes. This affordability can make homeownership more accessible, but it also means that local government services rely on these taxes for funding. Understanding how these bills are calculated can help homeowners budget effectively and anticipate any changes in their annual property tax obligations.
Average Jacksboro Tax Bill
$381
Average Anderson County Tax Bill
$1,127
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Jacksboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37757 | $334 | $352 | $381 | $411 | $428 |
Source: Ownwell