Sugar Tree, Benton County, Tennessee Property Taxes
The median property tax rate in Sugar Tree, TN is 0.68%, slightly higher than the state median of 0.64% but lower than the national median of 0.99%. With a median home value of $30,600 in Sugar Tree, the typical annual property tax bill amounts to $208, significantly below the national median of $2,690. Property taxes in Sugar Tree 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 Sugar Tree'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 Sugar Tree or another part of Benton County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sugar Tree, Benton County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$208
$193
Ownwell’s Sugar Tree Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Sugar Tree with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sugar Tree to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by Benton County for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Sugar Tree, Benton County, Tennessee
Property taxes in Sugar Tree, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sugar Tree is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Sugar Tree set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sugar Tree 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 Sugar Tree's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38380 zip code has the highest median property tax rate of 0.68%, while the same zip code also has the lowest median tax rate of 0.68%. Understanding how these cities compare with Sugar Tree provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sugar Tree Tax Rate
0.68%
Average Benton County Tax Rate
0.68%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sugar Tree, Benton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38380 | 0.68% | 0.68% | 0.68% | 0.68% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Sugar Tree, Benton County, Tennessee
In Sugar Tree, 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 Benton 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 Sugar Tree, 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. The highest median tax bill in Sugar Tree is $208 in the 38380 zip code, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Sugar Tree, Benton County, Tennessee
Source: Ownwell
$30,600
$78,550
$126,500
Average Sugar Tree Assessed Value
$30,600
Average Benton County Assessed Value
$75,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sugar Tree, Benton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38380 | $11,730 | $16,700 | $30,600 | $74,925 | $130,570 |
Source: Ownwell
Property Tax Bills Across Sugar Tree, Benton County, Tennessee
In Sugar Tree, property tax bills are calculated based on the assessed value of the property, which is determined by the Benton County assessor's office. The assessed value is a percentage of the property's market value. Homeowners in Sugar Tree can expect a range of property tax bills, influenced by factors such as the property's location, size, and condition. For instance, the median home price in Sugar Tree is $30,600, and property tax bills can vary significantly. The 25th percentile tax bill is $114, while the 75th percentile tax bill is $511. At the higher end, the 90th percentile tax bill reaches $890. The highest and lowest median tax bills in the area both stand at $208 in the 38380 zip code. Compared to the national median property tax rate of 0.99%, homeowners in Sugar Tree may find their tax bills relatively manageable. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Sugar Tree Tax Bill
$208
Average Benton County Tax Bill
$569
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Sugar Tree, Benton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38380 | $80 | $114 | $208 | $511 | $890 |
Source: Ownwell