Eaton, Tennessee Property Taxes
The median property tax rate in Eaton, TN is 0.76%, slightly lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With the median home value in Eaton at $58,900, the typical annual property tax bill amounts to $448, which is significantly lower than the national median of $2,690. Property taxes in Eaton are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Eaton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Eaton 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
Eaton, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$448
$415
Ownwell’s Eaton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Eaton with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Eaton to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed insights, scroll down to explore trends at the neighborhood level. Your property’s assessed value is the value assigned by the county for property tax calculations, which includes any applicable exemptions.
Property Tax Rates Across Eaton, Tennessee
Property taxes in Eaton, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eaton is 0.76%, lower than the U.S. national median of 0.99%. Local government entities within Eaton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eaton 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 Eaton's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38331 zip code has the highest median property tax rate of 0.76%, while the 38331 zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Eaton 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 Eaton 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 Eaton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38331 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Eaton, Tennessee
In Eaton, 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 Eaton, 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. For example, the highest median tax bill in Gibson County is $448 in the 38331 zip code, while the lowest median tax bill is also $448 in the same zip code. 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 Eaton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Eaton Assessed Value
$58,900
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 Eaton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38331 | $57,540 | $58,050 | $58,900 | $60,700 | $61,780 |
Source: Ownwell
Property Tax Bills Across Eaton, Tennessee
In Eaton, 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 Eaton is $58,900. Property taxes are determined by multiplying the assessed value by the local tax rate set by Gibson County. Homeowners in Eaton can expect to pay a median tax bill of approximately $448, with the 25th percentile tax bill at $442 and the 75th percentile at $462. At the 90th percentile, the tax bill reaches $470. These rates are relatively low compared to the national median property tax rate of 0.99%, making Eaton an attractive option for homeowners looking to save on property taxes. The consistent tax bills across different percentiles suggest a stable tax environment. This stability can positively impact homeowners by providing predictable annual expenses, making it easier to budget and plan for future financial needs.
Average Eaton Tax Bill
$448
Average Gibson County Tax Bill
$563
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Eaton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38331 | $438 | $442 | $448 | $462 | $470 |
Source: Ownwell