Auburntown, Tennessee Property Taxes
The median property tax rate in Auburntown, TN is 0.62%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $137,400 in Auburntown, the typical annual property tax bill is $845, significantly less than the national median of $2,690. Property taxes in Auburntown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Auburntown'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 Auburntown or another part of the county, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Auburntown, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Auburntown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Auburntown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Auburntown 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 Auburntown, Tennessee
Property taxes in Auburntown, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Auburntown is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Auburntown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Auburntown 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 Auburntown's effective property tax rate to other areas in Cannon County and the national median. For comparison, the 37016 zip code has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these areas compare with Auburntown provides valuable insights into the varying tax landscape across Cannon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Auburntown Tax Rate
0.62%
Average Cannon County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Auburntown, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37016 | 0.61% | 0.61% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Auburntown, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Auburntown, 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 Cannon 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 Auburntown, 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 instance, the median home price in Auburntown is $137,400, with tax bills ranging from $524 at the 25th percentile to $2,180 at the 90th percentile. The highest and lowest median tax bills are both $845 in the 37016 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Auburntown Assessed Value
$137,400
Average Cannon County Assessed Value
$129,400
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Auburntown, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37016 | $55,200 | $85,200 | $137,400 | $227,475 | $354,450 |
Source: Ownwell
Property Tax Bills Across Auburntown, Tennessee
In Auburntown, located in Cannon County, TN, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Factors such as the home's location, size, and condition can influence this market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Auburntown, the median home price is $137,400, with tax bills ranging significantly. The 25th percentile tax bill is around $524, while the 75th percentile tax bill is approximately $1,395. At the 90th percentile, tax bills can reach up to $2,180. Compared to the national median property tax rate of 0.99%, Auburntown's rates can be considered relatively moderate. However, the financial impact on homeowners varies based on their property's assessed value and the corresponding tax rate.
Average Auburntown Tax Bill
$845
Average Cannon County Tax Bill
$846
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Auburntown, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37016 | $340 | $524 | $845 | $1,395 | $2,180 |
Source: Ownwell