Fairview, Tennessee Property Taxes
The median property tax rate in Fairview, TN is 0.59%, which is notably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $231,800 in Fairview, the typical annual property tax bill amounts to $1,365, significantly below the national median of $2,690. Property taxes in Fairview are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fairview'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 Fairview 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
Fairview, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$1,368
Ownwell’s Fairview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairview 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 Fairview, Tennessee
Property taxes in Fairview, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairview is 0.59%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Fairview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairview 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 Fairview's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37062 zip code has both the highest and lowest median property tax rate of 0.59%. Understanding how these areas compare with Fairview provides valuable insights into the varying tax landscape across Dickson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairview Tax Rate
0.59%
Average Dickson County Tax Rate
0.59%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairview, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37062 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Fairview, Tennessee
In Fairview, 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 Dickson 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. In Fairview, 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 Fairview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fairview is $231,800, with the 25th percentile tax bill at $1,148 and the 75th percentile tax bill at $1,676. The highest and lowest median tax bills are both $1,365 in the 37062 zip code.
Average Fairview Assessed Value
$231,800
Average Dickson County Assessed Value
$180,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairview, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37062 | $162,960 | $195,150 | $231,800 | $285,350 | $416,970 |
Source: Ownwell
Property Tax Bills Across Fairview, Tennessee
In Fairview, located in Dickson County, TN, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the tax rate set by local authorities. For instance, with a median home price of $231,800, homeowners can expect varying tax bills depending on their property's assessed value and applicable tax rate. Several factors influence the tax bill, including property location, market trends, and any exemptions that may apply. For example, tax bills in Fairview range significantly, with the 25th percentile paying around $1,148 and the 75th percentile paying approximately $1,676. At the 90th percentile, the tax bill can reach up to $2,455. These property taxes fund essential services such as schools, public safety, and infrastructure. Understanding how property tax bills are calculated helps homeowners plan their finances better and ensures they are prepared for annual tax obligations.
Average Fairview Tax Bill
$1,365
Average Dickson County Tax Bill
$1,201
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairview, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37062 | $966 | $1,148 | $1,365 | $1,676 | $2,455 |
Source: Ownwell