Sugar Tree, Decatur County, Tennessee Property Taxes
The median property tax rate in Sugar Tree, TN is 0.64%, aligning with the state median but notably lower than the national median of 0.99%. With a median home value of $82,600 in Sugar Tree, the typical annual property tax bill is $533, which is significantly below the national median of $2,690. Property taxes in Sugar Tree are calculated based on the assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Sugar Tree'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 Sugar Tree or another part of Decatur County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sugar Tree, Decatur County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$529
$491
Ownwell’s Sugar Tree Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sugar Tree with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sugar Tree 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 Sugar Tree, Decatur County, Tennessee
Property taxes in Sugar Tree, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sugar Tree is 0.64%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Sugar Tree set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sugar Tree 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 Sugar Tree's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38380 zip code has both the highest and lowest median property tax rate of 0.64%. Understanding how these areas compare with Sugar Tree 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 Sugar Tree Tax Rate
0.64%
Average Decatur County Tax Rate
0.65%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sugar Tree, Decatur County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38380 | 0.64% | 0.64% | 0.64% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Sugar Tree, Decatur County, Tennessee
In Sugar Tree, 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 Decatur 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 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 Sugar Tree helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in the area is 38380, with a tax bill of $533.
Property Tax Assessment Values Across Sugar Tree, Decatur County, Tennessee
Source: Ownwell
$66,100
$94,600
$123,100
Average Sugar Tree Assessed Value
$82,600
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 Sugar Tree, Decatur County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38380 | $24,820 | $42,100 | $82,600 | $162,000 | $265,540 |
Source: Ownwell
Property Tax Bills Across Sugar Tree, Decatur County, Tennessee
In Sugar Tree, TN, located in Decatur County, property tax bills are calculated based on the assessed value of a property. The assessed value is typically a percentage of the property's market value, which is determined by the local tax assessor. Factors such as the property's size, location, and improvements can influence its assessed value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For example, the median home price in Sugar Tree is $82,600. Property tax bills in the area vary significantly, with the 25th percentile at $272 and the 75th percentile reaching $1,045. At the 90th percentile, homeowners might see tax bills as high as $1,712. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand how local rates and assessed values impact their financial responsibilities. This variability in tax bills can affect homeowners' budgeting and overall cost of living in the area.
Average Sugar Tree Tax Bill
$533
Average Decatur County Tax Bill
$529
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Sugar Tree, Decatur County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38380 | $160 | $272 | $533 | $1,045 | $1,712 |
Source: Ownwell