Lavinia, Tennessee Property Taxes
The median property tax rate in Lavinia, TN is 0.66%, slightly higher than the Tennessee state median of 0.64% but still below the national median of 0.99%. With a median home value of $74,100 in Lavinia, the typical annual property tax bill is $488, which is significantly lower than the national median of $2,690. Property taxes in Lavinia are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Lavinia'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 Lavinia or another part of Carroll County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lavinia, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$489
$454
Ownwell’s Lavinia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lavinia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lavinia 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 Lavinia, Tennessee
Property taxes in Lavinia, Tennessee, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Lavinia is 0.66%, significantly lower than the U.S. national median of 0.99%. Local government entities within Lavinia set these rates annually, and they can vary across different neighborhoods. Each year, Lavinia 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 Lavinia's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38348 has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Lavinia provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lavinia Tax Rate
0.66%
Average Carroll County Tax Rate
0.66%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lavinia, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38348 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Lavinia, Tennessee
In Lavinia, 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 local 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 Lavinia, 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 Lavinia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $74,100, with tax bills ranging from $255 at the 25th percentile to $1,306 at the 90th percentile. The zip code with the highest and lowest median tax bill is 38348, both at $488.
Average Lavinia Assessed Value
$74,100
Average Carroll County Assessed Value
$76,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lavinia, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38348 | $21,580 | $38,750 | $74,100 | $129,950 | $198,500 |
Source: Ownwell
Property Tax Bills Across Lavinia, Tennessee
In Lavinia, located in Carroll County, TN, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the property's market value, which is determined by the county assessor. For homeowners in Lavinia, the median home price is $74,100. Property tax rates are applied to the assessed value to calculate the tax bill. Various factors influence the tax bill, including the property's location, size, and any applicable exemptions. In Carroll County, the property tax bill at the 25th percentile is $255, while at the 75th percentile, it rises to $856, and at the 90th percentile, it reaches $1306. The highest median tax bill in the area is $488, found in the 38348 zip code. These property taxes are essential for funding local services such as schools, public safety, and infrastructure. Homeowners must be aware of these costs as they directly impact their annual expenses and overall affordability of owning a home in Lavinia.
Average Lavinia Tax Bill
$488
Average Carroll County Tax Bill
$574
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Lavinia, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38348 | $142 | $255 | $488 | $856 | $1,306 |
Source: Ownwell