Sparta, Tennessee Property Taxes
The median property tax rate in Sparta, TN is 0.28%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Sparta at $107,450, the typical annual property tax bill is $304, well below the national median of $2,690. Property taxes in Sparta 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 Sparta's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Sparta 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
Sparta, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$301
Ownwell’s Sparta Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Sparta with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Sparta to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. Interested in seeing trends on a neighborhood level? Scroll down for 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 Sparta, Tennessee
Property taxes in Sparta, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sparta is 0.28%, which is lower than both the Tennessee state median of 0.68% and the U.S. national median of 0.99%. Local government entities within Sparta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sparta 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 Sparta's effective property tax rate to other counties in Tennessee and the national median. For comparison, the highest median property tax rate in Tennessee is found in Williamson County at 0.91%, while the lowest median tax rate is in Macon County at 0.25%. Understanding how these cities compare with Sparta provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sparta Tax Rate
0.28%
Average Cumberland County Tax Rate
0.28%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sparta, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38583 | 0.28% | 0.28% | 0.28% | 0.28% | 0.28% |
Source: Ownwell
Property Tax Assessment Values Across Sparta, Tennessee
In Sparta, 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 Sparta, 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 Sparta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $304.00 in the 38583 zip code, offering a consistent tax landscape within the area.
Average Sparta Assessed Value
$107,450
Average Cumberland County Assessed Value
$180,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sparta, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38583 | $30,480 | $53,175 | $107,450 | $169,100 | $231,840 |
Source: Ownwell
Property Tax Bills Across Sparta, Tennessee
In Sparta, Tennessee, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Sparta is $107,450. Property taxes are then applied to this assessed value using the local tax rate set by Cumberland County. Various factors influence the final tax bill, including property location, home improvements, and exemptions for which homeowners may qualify. For instance, the tax bill at the 25th percentile is $153, while at the 75th percentile, it’s $477, and at the 90th percentile, it reaches $658. These variations highlight how different factors and assessments can lead to significant differences in tax obligations. The highest and lowest median tax bills in the area both stand at $304, reflecting a uniformity in certain regions of Sparta. Homeowners in Sparta should be aware that their property tax bill can impact their overall financial planning, as it represents a recurring expense tied directly to their property’s assessed value and the local tax rate.
Average Sparta Tax Bill
$304
Average Cumberland County Tax Bill
$512
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Sparta, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38583 | $87 | $153 | $304 | $477 | $658 |
Source: Ownwell