Westport, Tennessee Property Taxes
The median property tax rate in Westport, TN is 0.69%, slightly below the national median of 0.99% but higher than the Tennessee state median of 0.64%. With the median home value in Westport at $85,000, the typical annual property tax bill amounts to $588, which is significantly less than the national median of $2,690. Property taxes in Westport are based on the tax assessed value, which generally falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Westport'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 Westport or another part of Carroll County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Westport, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$587
$544
Ownwell’s Westport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westport 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 Westport, Tennessee
Property taxes in Westport, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westport is 0.69%, lower than the U.S. national median of 0.99%. Local government entities within Westport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westport 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 Westport's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38387 zip code has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Westport 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 Westport Tax Rate
0.69%
Average Carroll County Tax Rate
0.66%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westport, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38387 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Westport, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Westport, 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 Carroll 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. Assessment notices in Westport 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 Westport is $85,000, with tax bills ranging from $286 at the 25th percentile to $1,898 at the 90th percentile. The zip code 38387 has the highest and lowest median tax bill, both at $588. 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 Westport Assessed Value
$85,000
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 Westport, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38387 | $22,400 | $41,500 | $85,000 | $177,875 | $274,050 |
Source: Ownwell
Property Tax Bills Across Westport, Tennessee
In Westport, TN, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is determined by the local assessor. The property tax rate is then applied to this assessed value to calculate the tax bill. Various factors influence the assessed value, including the property's location, size, and condition. For homeowners in Westport, the median home price is $85,000. Property tax bills can vary significantly, with the 25th percentile at $286 and the 75th percentile reaching $1,240. At the 90th percentile, tax bills can be as high as $1,898. Comparatively, the highest and lowest median tax bills in the county both stand at $588, indicating a relatively uniform tax rate across different areas within the county. This variation in tax bills impacts homeowners differently, influencing their overall cost of living and potentially affecting property values and market dynamics. Understanding how these taxes are calculated helps homeowners better manage their finances and anticipate future expenses.
Average Westport Tax Bill
$588
Average Carroll County Tax Bill
$574
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Westport, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38387 | $154 | $286 | $588 | $1,240 | $1,898 |
Source: Ownwell