Trimble, Tennessee Property Taxes
The median property tax rate in Trimble, 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 $92,800 in Trimble, the typical annual property tax bill is about $705, significantly below the national median of $2,690. Property taxes in Trimble are calculated based on the tax assessed value, which often falls below the market value thanks to various exemptions like those for primary residences and agricultural properties. Understanding Trimble'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 Trimble or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Trimble, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$705
$654
Ownwell’s Trimble Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Trimble with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Trimble 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 Trimble, Tennessee
Property taxes in Trimble, Tennessee, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Trimble is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Trimble set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trimble 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 Trimble's effective property tax rate to other counties in Tennessee and the national median. For comparison, the ZIP code 38259 has both the highest and lowest median property tax rate of 0.76%. Understanding how these cities compare with Trimble provides valuable insights into the varying tax landscape across Dyer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trimble 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 Trimble, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38259 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Trimble, Tennessee
In Trimble, 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 Trimble, 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 Trimble helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Trimble is $92,800. The zip code with the highest and lowest median tax bill is 38259, both at $705. By understanding these valuation processes, property owners can better manage their tax burden.
Average Trimble Assessed Value
$92,800
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 Trimble, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38259 | $66,840 | $86,600 | $92,800 | $248,750 | $336,560 |
Source: Ownwell
Property Tax Bills Across Trimble, Tennessee
In Trimble, located in Gibson County, TN, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, the median home price in Trimble is $92,800. The property tax rate in this region is then applied to this assessed value to determine the annual tax bill. Factors such as the home's location, size, and condition can influence its assessed value. Homeowners in Trimble can expect their property tax bills to vary significantly. For example, tax bills at the 25th percentile are around $658, whereas those at the 75th percentile can reach up to $1,892. At the 90th percentile, tax bills can be as high as $2,560. Compared to the national median property tax rate of 0.99%, the rates in Trimble can be considered relatively moderate. These property taxes are crucial for funding local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life.
Average Trimble Tax Bill
$705
Average Gibson County Tax Bill
$563
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Trimble, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38259 | $508 | $658 | $705 | $1,892 | $2,560 |
Source: Ownwell