Ethridge, Tennessee Property Taxes
The median property tax rate in Ethridge, TN is 0.50%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Ethridge at $155,900, the typical annual property tax bill is $806, significantly below the national median of $2,690. Property taxes in Ethridge are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ethridge'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 Ethridge 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
Ethridge, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Ethridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ethridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ethridge 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 Ethridge, Tennessee
Property taxes in Ethridge, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ethridge is 0.50%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Ethridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ethridge 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 Ethridge's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38456 zip code has the highest median property tax rate of 0.50%, while the 38456 zip code also has the lowest median tax rate of 0.50%. Understanding how these cities compare with Ethridge provides valuable insights into the varying tax landscape across Giles County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ethridge Tax Rate
0.50%
Average Giles County Tax Rate
0.50%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ethridge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38456 | 0.50% | 0.50% | 0.50% | 0.50% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Ethridge, Tennessee
In Ethridge, 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 Giles County Assessor of Property 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 Ethridge, 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 Ethridge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $806.00 in the 38456 zip code, which is also the lowest, reflecting the uniformity in tax assessments within this region.
Average Ethridge Assessed Value
$155,900
Average Giles County Assessed Value
$155,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ethridge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38456 | $51,900 | $89,975 | $155,900 | $237,050 | $334,800 |
Source: Ownwell
Property Tax Bills Across Ethridge, Tennessee
In Ethridge, located in Giles County, TN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and represents a percentage of the property's market value. Once the assessed value is determined, it is multiplied by the local tax rate to calculate the annual property tax bill. Factors that influence the assessed value include the home's location, size, and condition, as well as recent sales of comparable properties in the area. Homeowners in Ethridge experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $453, while at the 75th percentile, it is $1,231. The 90th percentile reaches up to $1,727. Comparing this to the national median property tax rate of 0.99%, Ethridge's property tax rates are relatively moderate. This system ensures that property taxes are proportionate to the value of the property, impacting homeowners by requiring them to budget for these annual expenses based on their home's assessed value.
Average Ethridge Tax Bill
$806
Average Giles County Tax Bill
$838
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Ethridge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38456 | $258 | $453 | $806 | $1,231 | $1,727 |
Source: Ownwell