Eads, Tennessee Property Taxes
The median property tax rate in Eads, TN, is 0.32%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Eads at $301,300, the typical annual property tax bill amounts to $981, far below the national median of $2,690. Property taxes in Eads are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Eads' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Eads or another part of Fayette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eads, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$964
$895
Ownwell’s Eads Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eads with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eads 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 Eads, Tennessee
Property taxes in Eads, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eads is 0.68%, which is higher than the Tennessee state median of 0.64% but still lower than the U.S. national median of 0.99%. Local government entities within Eads set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eads 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 Eads'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 0.71%, while the lowest median tax rate is in Perry County at 0.31%. Understanding how these areas compare with Eads provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eads Tax Rate
0.32%
Average Fayette County Tax Rate
0.32%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eads, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38028 | 0.32% | 0.32% | 0.32% | 0.32% | 0.32% |
Source: Ownwell
Property Tax Assessment Values Across Eads, Tennessee
In Eads, 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 Fayette 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 Eads, 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 Eads helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Eads are both $981.00, found in the 38028 zip code.
Average Eads Assessed Value
$301,300
Average Fayette County Assessed Value
$164,200
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eads, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38028 | $53,500 | $124,550 | $301,300 | $447,600 | $608,600 |
Source: Ownwell
Property Tax Bills Across Eads, Tennessee
Property tax bills in Eads, located in Fayette County, TN, are calculated based on the assessed value of a property. The assessed value is a percentage of the property's market value, determined by the county assessor. In Eads, the median home price is $301,300, and the property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the tax bill, including property size, location, and improvements. Homeowners in Eads can expect a tax bill ranging from $403 at the 25th percentile to $1,981 at the 90th percentile. This variation highlights how property characteristics and market conditions impact the final tax amount. Compared to the national median property tax rate of 0.99%, Eads residents experience a range of tax bills that reflect the local real estate market and assessment practices. Understanding these factors helps homeowners anticipate and manage their annual property tax obligations, ensuring they are prepared for the financial impact.
Average Eads Tax Bill
$981
Average Fayette County Tax Bill
$616
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Eads, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38028 | $176 | $403 | $981 | $1,449 | $1,981 |
Source: Ownwell