Piperton, Tennessee Property Taxes
The median property tax rate in Piperton, TN is 0.40%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Piperton at $429,450, the typical annual property tax bill reaches $1,704, which is notably below the national median of $2,690. Property taxes in Piperton are calculated based on the assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Piperton'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 Piperton 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
Piperton, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Piperton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Piperton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Piperton 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 Piperton, Tennessee
Property taxes in Piperton, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Piperton is 0.40%, which is lower than the U.S. national median of 0.99%. Local government entities within Piperton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Piperton 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 Piperton's effective property tax rate to other areas in Tennessee and the national median. For comparison, the 38017 zip code has the highest median property tax rate of 0.40%, while the 38017 zip code also has the lowest median tax rate of 0.40%. Understanding how these cities compare with Piperton 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 Piperton Tax Rate
0.40%
Average Fayette County Tax Rate
0.32%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Piperton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38017 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Piperton, Tennessee
In Piperton, 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 Fayette County 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 Piperton, 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 Piperton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Piperton is $429,450, with the 25th percentile tax bill at $739 and the 75th percentile tax bill at $2,486. The highest and lowest median tax bills both occur in the 38017 zip code, amounting to $1,704.
Average Piperton Assessed Value
$429,450
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 Piperton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38017 | $75,000 | $185,875 | $429,450 | $617,925 | $729,660 |
Source: Ownwell
Property Tax Bills Across Piperton, Tennessee
In Piperton, located in Fayette County, TN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor, who evaluates the property's market value and then applies an assessment ratio. For homeowners in Piperton, the median home price stands at $429,450. The property tax rate in this area is considered low compared to the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's location, size, and any improvements made. For instance, tax bills in Piperton range from $739 at the 25th percentile to $2,970 at the 90th percentile. The highest median tax bill within the relevant zip code is $1,704. These tax bills impact homeowners by contributing to local services such as schools, emergency services, and infrastructure maintenance. Understanding how these taxes are calculated helps homeowners budget accordingly and ensures they are prepared for their annual property tax obligations.
Average Piperton Tax Bill
$1,704
Average Fayette County Tax Bill
$616
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Piperton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38017 | $300 | $739 | $1,704 | $2,486 | $2,970 |
Source: Ownwell