Decaturville, Decatur County, Tennessee Property Taxes
The median property tax rate in Decaturville, TN is 0.65%, 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 $79,300 in Decaturville, the typical annual property tax bill amounts to $546, which is significantly lower than the national median of $2,690. Property taxes in Decaturville are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Decaturville'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 Decaturville or another part of Decatur County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Decaturville, Decatur County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$515
$478
Ownwell’s Decaturville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Decaturville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Decaturville 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 Decaturville, Decatur County, Tennessee
Property taxes in Decaturville, Tennessee, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Decaturville is 0.65%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Decaturville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Decaturville 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 Decaturville's effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 38329 within Decatur County has a median property tax rate of 0.65%, reflecting the uniformity in property tax rates across the region. Understanding how these areas compare with Decaturville provides valuable insights into the varying tax landscape across Decatur County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Decaturville Tax Rate
0.65%
Average Decatur County Tax Rate
0.65%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Decaturville, Decatur County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38329 | 0.64% | 0.64% | 0.65% | 0.65% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Decaturville, Decatur County, Tennessee
In Decaturville, 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 Decaturville, 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 Decaturville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $546 in the 38329 zip code, which aligns with the lowest median tax bill, reflecting a relatively uniform tax burden across the region.
Property Tax Assessment Values Across Decaturville, Decatur County, Tennessee
Source: Ownwell
$66,100
$94,600
$123,100
Average Decaturville Assessed Value
$79,300
Average Decatur County Assessed Value
$75,850
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Decaturville, Decatur County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38329 | $25,790 | $44,275 | $79,300 | $133,025 | $209,630 |
Source: Ownwell
Property Tax Bills Across Decaturville, Decatur County, Tennessee
In Decaturville, TN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. For homeowners in Decaturville, the tax bill can vary significantly. For instance, the 25th percentile tax bill is $310, while the 75th percentile reaches $896, and the 90th percentile goes up to $1378. This variation indicates that different factors, such as property size, location, and improvements, play a crucial role in determining the final tax amount. Homeowners in Decaturville face a median property tax bill of $546, which is considerably lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable compared to other regions. However, it's essential for homeowners to stay informed about their property's assessed value and any changes in local tax rates, as these factors directly impact their annual tax bill.
Average Decaturville Tax Bill
$546
Average Decatur County Tax Bill
$529
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Decaturville, Decatur County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38329 | $171 | $310 | $546 | $896 | $1,378 |
Source: Ownwell