Wildersville, Tennessee Property Taxes
The median property tax rate in Wildersville, TN is 0.65%, slightly higher than the Tennessee state median of 0.64% but lower than the national median of 0.99%. With a median home value of $101,150 in Wildersville, the typical annual property tax bill amounts to $652, significantly below the national median of $2,690. Property taxes in Wildersville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wildersville'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 Wildersville or another part of Decatur County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wildersville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$657
$610
Ownwell’s Wildersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wildersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wildersville 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 Wildersville, Tennessee
Property taxes in Wildersville, Tennessee, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Wildersville is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Wildersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wildersville 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 Wildersville's effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 38388 has the same median property tax rate of 0.65%. Understanding how these areas compare with Wildersville 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 Wildersville 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 Wildersville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38388 | 0.64% | 0.64% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Wildersville, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wildersville, Tennessee. The market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Decatur 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 Wildersville, 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. For instance, the highest median tax bill in Wildersville is $652 in the 38388 zip code, while the lowest is also $652 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wildersville Assessed Value
$101,150
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 Wildersville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38388 | $42,700 | $73,575 | $101,150 | $112,300 | $177,300 |
Source: Ownwell
Property Tax Bills Across Wildersville, Tennessee
In Wildersville, located in Decatur County, TN, 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 Wildersville is $101,150. Homeowners can expect their property tax bills to vary within certain ranges. For instance, the 25th percentile tax bill is $474, while the 75th percentile tax bill reaches $724. For those at the 90th percentile, the tax bill can climb to $1,144. These tax bills are influenced by multiple factors, including the local tax rate and the assessed value of the property. The local tax rate is applied to the assessed value to determine the final tax bill. This system ensures that homeowners with higher-valued properties contribute more in taxes, reflecting their greater ability to pay. Compared to the national median property tax rate of 0.99%, Wildersville's rates provide a relatively affordable option for homeowners, making it an attractive location for those looking to manage their property expenses effectively.
Average Wildersville Tax Bill
$652
Average Decatur County Tax Bill
$529
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Wildersville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38388 | $276 | $474 | $652 | $724 | $1,144 |
Source: Ownwell