Crockett Mills, Tennessee Property Taxes
The median property tax rate in Crockett Mills, TN is 0.56%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $89,800 in Crockett Mills, the typical annual property tax bill amounts to $499, which is well below the national median of $2,690. Property taxes in Crockett Mills are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Crockett Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Crockett Mills or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crockett Mills, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$503
$467
Ownwell’s Crockett Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crockett Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crockett Mills 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 Crockett Mills, Tennessee
Property taxes in Crockett Mills, Tennessee, play a crucial role in funding essential services such as public schools, road maintenance, and emergency services. The median tax rate in Crockett Mills is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Crockett Mills set these rates annually, and they can vary across different neighborhoods. Each year, Crockett Mills 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 Crockett Mills' effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38021 zip code has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these areas compare with Crockett Mills provides valuable insights into the varying tax landscape across Crockett County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crockett Mills Tax Rate
0.56%
Average Crockett County Tax Rate
0.56%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crockett Mills, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38021 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Crockett Mills, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Crockett Mills, 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 Crockett County Assessor 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 Crockett Mills, 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 median home price in Crockett Mills is $89,800. The tax bills range from the 25th percentile at $486 to the 90th percentile at $520, with the highest and lowest median tax bills both at $499 in zip code 38021. 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 Crockett Mills, Tennessee
Source: Ownwell
$78,700
$102,800
$126,900
Average Crockett Mills Assessed Value
$89,800
Average Crockett County Assessed Value
$110,100
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crockett Mills, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38021 | $86,040 | $87,450 | $89,800 | $92,150 | $93,560 |
Source: Ownwell
Property Tax Bills Across Crockett Mills, Tennessee
In Crockett Mills, TN, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the property's market value. The tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Crockett Mills, the median home price is $89,800, and the property tax rate is relatively low compared to the national median of 0.99%. Homeowners in this city can expect tax bills to vary within a narrow range. For example, the tax bill at the 25th percentile is $486, while at the 75th percentile, it is $512. Even at the 90th percentile, the tax bill only rises slightly to $520. This consistency provides homeowners with a predictable financial obligation, making it easier to budget for property taxes. The highest and lowest median tax bills are both $499, indicating uniformity in tax assessments across different properties.
Average Crockett Mills Tax Bill
$499
Average Crockett County Tax Bill
$616
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Crockett Mills, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38021 | $478 | $486 | $499 | $512 | $520 |
Source: Ownwell