Dyer, Tennessee Property Taxes
The median property tax rate in Dyer, TN is 0.76%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With a median home value of $68,700 in Dyer, the typical annual property tax bill is approximately $535, significantly below the national median of $2,690. Property taxes in Dyer are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Dyer'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 Dyer or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dyer, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$522
$485
Ownwell’s Dyer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dyer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dyer 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 Dyer, Tennessee
Property taxes in Dyer, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dyer is 0.76%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Dyer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dyer 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 Dyer's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38330 zip code has both the highest and lowest median property tax rate of 0.76%. Understanding how these areas compare with Dyer provides valuable insights into the varying tax landscape across Gibson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dyer Tax Rate
0.76%
Average Gibson County Tax Rate
0.76%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dyer, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38330 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Dyer, Tennessee
In Dyer, 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 local 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 Dyer, 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 Dyer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Dyer is $535, found in the 38330 zip code, which also has the lowest median tax bill at $535.
Average Dyer Assessed Value
$68,700
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 Dyer, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38330 | $30,660 | $43,400 | $68,700 | $109,450 | $171,100 |
Source: Ownwell
Property Tax Bills Across Dyer, Tennessee
In Dyer, TN, located in Gibson County, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Dyer is $68,700. Homeowners' tax bills can vary significantly, with the 25th percentile paying around $334, while those in the 75th percentile see bills closer to $852. At the 90th percentile, tax bills can reach up to $1,307. Factors influencing the tax bill include the property's assessed value and the local tax rate. For comparison, the national median property tax rate is 0.99%. In Dyer, the highest and lowest median tax bills are both $535, indicating a relatively consistent tax burden across different zip codes within the city. This consistency provides some predictability for homeowners, helping them manage their annual expenses more effectively.
Average Dyer Tax Bill
$535
Average Gibson County Tax Bill
$563
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Dyer, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38330 | $236 | $334 | $535 | $852 | $1,307 |
Source: Ownwell