Finger, Chester County, Tennessee Property Taxes
The median property tax rate in Finger, TN is 0.62%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Finger at $111,400, the typical annual property tax bill amounts to $672, significantly below the national median of $2,690. Property taxes in Finger 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 Finger'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 Finger or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Finger, Chester County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$691
$641
Ownwell’s FINGER Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FINGER with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FINGER 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 Finger, Chester County, Tennessee
Property taxes in Finger, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Finger is 0.62%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Finger set these rates annually, and they can vary significantly across different neighborhoods. Each year, Finger 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 Finger's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38334 has both the highest and the lowest median property tax rate of 0.62%. Understanding how these cities compare with Finger provides valuable insights into the varying tax landscape across Chester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Finger Tax Rate
0.62%
Average Chester County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Finger, Chester County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38334 | 0.51% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Finger, Chester County, Tennessee
In Finger, 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 Chester 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 Finger, 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 Finger helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 38334 has the highest median tax bill at $672.00, which is significantly less than the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Finger, Chester County, Tennessee
Source: Ownwell
$76,250
$109,525
$142,800
Average Finger Assessed Value
$111,400
Average Chester County Assessed Value
$125,450
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Finger, Chester County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38334 | $33,610 | $70,750 | $111,400 | $203,625 | $315,810 |
Source: Ownwell
Property Tax Bills Across Finger, Chester County, Tennessee
In Finger, Chester County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $111,400, homeowners in Finger can expect varying tax bills depending on the assessed value and applicable exemptions. Several factors influence the final tax bill, including property improvements, location, and any applicable exemptions or deductions. The tax bills in Finger range significantly, with the 25th percentile at $440 and the 75th percentile at $1116. At the 90th percentile, homeowners may see bills as high as $1905. This variability can impact homeowners differently; those with higher-valued properties or fewer exemptions will face higher tax bills. Compared to the national median property tax rate of 0.99%, Finger's rates reflect the economic and housing market conditions specific to Chester County.
Average Finger Tax Bill
$672
Average Chester County Tax Bill
$763
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Finger, Chester County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38334 | $209 | $440 | $672 | $1,116 | $1,905 |
Source: Ownwell