Gibson County, Tennessee Property Taxes
The median property tax rate in Gibson County is 0.76%, which is lower than the national median of 0.99% but higher than Tennessee's state median of 0.64%. With the median home value in Gibson County, the typical annual property tax bill is $563, significantly below the national median of $2,690. Property taxes in Gibson County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Gibson County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you live in Trenton or another part of Gibson County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gibson County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$591
$549
Ownwell’s Gibson County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Gibson County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Gibson County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Gibson County, Tennessee
Property taxes in Gibson County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Gibson County is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Gibson County set these rates annually, and they can vary significantly between different areas within the county. Each year, Gibson County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Gibson has one of the higher property tax rates in Tennessee at 1.02%, while the city of Bradford boasts one of the lowest at 0.75%. Analyzing how Gibson County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Gibson County Tax Rate
0.76%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gibson County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Atwood | 0.75% | 0.75% | 0.80% | 0.80% | 0.80% |
| Bradford | 0.75% | 0.75% | 0.75% | 1.23% | 1.23% |
| Dyer | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
| Eaton | N/A | N/A | N/A | N/A | N/A |
| Gadsden | N/A | N/A | N/A | N/A | N/A |
| Gibson | 1.02% | 1.02% | 1.02% | 1.02% | 1.02% |
| Humboldt | 0.26% | 0.26% | 0.26% | 0.76% | 0.76% |
| Kenton | 0.76% | 0.76% | 0.86% | 0.86% | 0.86% |
| Medina | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
| Milan | 0.76% | 0.80% | 0.80% | 0.80% | 0.80% |
| Newbern | 0.76% | 0.76% | 0.76% | 0.76% | 0.90% |
| Rutherford | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
| Trenton | 0.76% | 0.78% | 0.79% | 0.79% | 0.79% |
| Trimble | N/A | N/A | N/A | N/A | N/A |
| Yorkville | 0.76% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Gibson County, Tennessee
In Gibson County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Gibson County Appraisal District. The assessed value, however, 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 in Gibson County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Gibson County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Medina has the highest median tax bill at $1,262, while Gadsden has the lowest at $212.
Property Tax Assessment Values Across Gibson County, Tennessee
Source: Ownwell
$58,600
$111,950
$165,300
Average Gibson County Assessed Value
$77,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gibson County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Atwood | $29,740 | $51,750 | $78,300 | $162,700 | $248,800 |
| Bradford | $28,420 | $44,000 | $69,800 | $113,550 | $187,800 |
| Dyer | $30,660 | $43,400 | $68,700 | $109,450 | $171,100 |
| Eaton | N/A | N/A | N/A | N/A | N/A |
| Gadsden | N/A | N/A | N/A | N/A | N/A |
| Gibson | $23,500 | $45,600 | $58,600 | $71,150 | $90,860 |
| Humboldt | $23,650 | $35,125 | $63,900 | $108,600 | $191,900 |
| Kenton | $24,460 | $43,000 | $71,300 | $117,100 | $175,220 |
| Medina | $64,740 | $119,400 | $165,300 | $215,000 | $270,420 |
| Milan | $31,400 | $48,200 | $81,800 | $131,950 | $196,660 |
| Newbern | $33,650 | $51,600 | $82,300 | $145,275 | $238,630 |
| Rutherford | $29,500 | $44,500 | $66,400 | $103,750 | $171,020 |
| Trenton | $26,830 | $41,900 | $69,350 | $116,800 | $180,610 |
| Trimble | N/A | N/A | N/A | N/A | N/A |
| Yorkville | $55,630 | $68,450 | $82,200 | $101,000 | $118,050 |
Source: Ownwell
Property Tax Bills Across Gibson County, Tennessee
In Gibson County, TN, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in the county is $77,800. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property location, improvements, and local tax rates influence the final amount. For instance, the tax bill at the 25th percentile is $281, while at the 75th percentile, it rises to $1,036. The highest median tax bill in the county is in Medina at $1,262, whereas Gadsden has the lowest at $212. Compared to the national median property tax rate of 0.99%, Gibson County offers a relatively affordable tax environment for homeowners. This variability in tax bills can significantly impact homeowners, influencing decisions on property investments and financial planning. Understanding these factors can help homeowners anticipate their property tax obligations more accurately.
Average Gibson County Tax Bill
$563
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Gibson County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Atwood | $224 | $394 | $606 | $1,268 | $1,995 |
| Bradford | $242 | $400 | $665 | $1,028 | $1,506 |
| Dyer | $236 | $334 | $535 | $852 | $1,307 |
| Eaton | N/A | N/A | N/A | N/A | N/A |
| Gadsden | N/A | N/A | N/A | N/A | N/A |
| Gibson | $232 | $465 | $598 | $725 | $927 |
| Humboldt | $65 | $105 | $215 | $548 | $1,182 |
| Kenton | $206 | $380 | $587 | $994 | $1,475 |
| Medina | $482 | $910 | $1,262 | $1,622 | $2,042 |
| Milan | $251 | $387 | $672 | $1,066 | $1,612 |
| Newbern | $260 | $407 | $693 | $1,127 | $1,815 |
| Rutherford | $228 | $341 | $513 | $815 | $1,305 |
| Trenton | $210 | $330 | $545 | $922 | $1,420 |
| Trimble | N/A | N/A | N/A | N/A | N/A |
| Yorkville | $496 | $604 | $722 | $902 | $1,064 |
Source: Ownwell