Yorkville, Tennessee Property Taxes
The median property tax rate in Yorkville, TN is 0.90%, slightly lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With a median home value of $82,200 in Yorkville, the typical annual property tax bill is $722, which is significantly less than the national median of $2,690. Property taxes in Yorkville are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Yorkville'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 Yorkville or another part of Gibson County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yorkville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$740
$687
Ownwell’s Yorkville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yorkville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yorkville 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 Yorkville, Tennessee
Property taxes in Yorkville, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yorkville is 0.90%, lower than the U.S. national median of 0.99%. Local government entities within Yorkville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yorkville 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 Yorkville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38389 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these cities compare with Yorkville 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 Yorkville Tax Rate
0.90%
Average Gibson County Tax Rate
0.76%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yorkville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38389 | 0.76% | 0.90% | 0.90% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Yorkville, Tennessee
In Yorkville, 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 Gibson County 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 Yorkville, 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 Yorkville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Yorkville's highest and lowest median tax bills both stand at $722 in the 38389 zip code, highlighting a consistent tax environment within the area.
Average Yorkville Assessed Value
$82,200
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 Yorkville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38389 | $55,630 | $68,450 | $82,200 | $101,000 | $118,050 |
Source: Ownwell
Property Tax Bills Across Yorkville, Tennessee
In Yorkville, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The tax rate, applied to this assessed value, determines the final tax bill. Factors such as property location, size, and market conditions influence the assessed value. Homeowners in Yorkville can expect property tax bills to vary; the 25th percentile tax bill is around $604, while the 75th percentile reaches $902, and the 90th percentile goes up to $1064. Comparatively, the median home price in Yorkville is $82,200. Despite the national median property tax rate being 0.99%, homeowners in Yorkville experience a range of tax bills. For instance, the highest median tax bill in the area is $722, indicating a relatively moderate tax burden. These property tax bills directly impact homeowners by influencing their annual housing costs and potentially affecting their financial planning and homeownership affordability.
Average Yorkville Tax Bill
$722
Average Gibson County Tax Bill
$563
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Yorkville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38389 | $496 | $604 | $722 | $902 | $1,064 |
Source: Ownwell