Kenton, Gibson County, Tennessee Property Taxes
The median property tax rate in Kenton, TN, is 0.86%, which is lower than the national median of 0.99% but higher than Tennessee's state median of 0.64%. With a median home value of $71,300 in Kenton, the typical annual property tax bill is around $587, significantly below the national median of $2,690. Property taxes in Kenton are calculated based on the assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Kenton'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 Kenton 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
Kenton, Gibson County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$613
$569
Ownwell’s Kenton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kenton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kenton 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 Kenton, Gibson County, Tennessee
Property taxes in Kenton, Tennessee, are crucial in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kenton is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Kenton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kenton 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. Understanding how Kenton's effective property tax rate compares to other areas in Gibson County and the national median provides valuable insights into the varying tax landscape across the region, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kenton Tax Rate
0.86%
Average Gibson County Tax Rate
0.76%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kenton, Gibson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38233 | 0.76% | 0.76% | 0.86% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Kenton, Gibson County, Tennessee
In Kenton, 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 Kenton, 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 Kenton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 38233 in Gibson County has the highest and lowest median tax bill at $587.
Property Tax Assessment Values Across Kenton, Gibson County, Tennessee
Source: Ownwell
$58,600
$111,950
$165,300
Average Kenton Assessed Value
$71,300
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 Kenton, Gibson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38233 | $24,460 | $43,000 | $71,300 | $117,100 | $175,220 |
Source: Ownwell
Property Tax Bills Across Kenton, Gibson County, Tennessee
In Kenton, Tennessee, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Kenton stands at $71,300. Local tax authorities determine the assessed value and apply the relevant tax rate to calculate the annual tax bill. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. For example, the 25th percentile tax bill in Kenton is $380, while the 75th percentile tax bill is $994, and the 90th percentile tax bill reaches $1,475. These figures reflect the range of property taxes homeowners might expect, depending on their property's value and any qualifying exemptions. Compared to the national median property tax rate of 0.99%, Kenton's property tax rates can vary, but they provide a crucial source of funding for local services such as schools, infrastructure, and public safety, significantly impacting homeowners' annual expenses.
Average Kenton Tax Bill
$587
Average Gibson County Tax Bill
$563
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Kenton, Gibson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38233 | $206 | $380 | $587 | $994 | $1,475 |
Source: Ownwell