Lawrenceburg, Giles County, Tennessee Property Taxes
The median property tax rate in Lawrenceburg, TN is 0.50%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $147,750 in Lawrenceburg, the typical annual property tax bill amounts to $758, which is well below the national median of $2,690. Property taxes in Lawrenceburg are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Lawrenceburg'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 Lawrenceburg 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
Lawrenceburg, Giles County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$739
$686
Ownwell’s Lawrenceburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lawrenceburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lawrenceburg 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 Lawrenceburg, Giles County, Tennessee
Property taxes in Lawrenceburg, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lawrenceburg 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 Lawrenceburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lawrenceburg 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 Lawrenceburg's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38464 zip code has the highest median property tax rate of 0.50%, while the same 38464 zip code also has the lowest median tax rate of 0.50%. Understanding how these cities compare with Lawrenceburg 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 Lawrenceburg 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 Lawrenceburg, Giles County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38464 | 0.50% | 0.50% | 0.50% | 0.50% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Lawrenceburg, Giles County, Tennessee
In Lawrenceburg, 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 Lawrenceburg, 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 Lawrenceburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lawrenceburg is $147,750, with tax bills ranging from $468 at the 25th percentile to $1,731 at the 90th percentile. The zip code 38464 has the highest median tax bill at $758, offering a glimpse into the variability within the region.
Property Tax Assessment Values Across Lawrenceburg, Giles County, Tennessee
Source: Ownwell
$103,700
$152,150
$200,600
Average Lawrenceburg Assessed Value
$147,750
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 Lawrenceburg, Giles County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38464 | $52,310 | $94,000 | $147,750 | $233,975 | $333,410 |
Source: Ownwell
Property Tax Bills Across Lawrenceburg, Giles County, Tennessee
In Lawrenceburg, TN, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local tax assessor and is a percentage of the property's market value. For example, if the median home price in Lawrenceburg is $147,750, the tax bill can vary significantly depending on the assessed value and applicable tax rate. Homeowners in Lawrenceburg can expect to pay property taxes within a range, with the 25th percentile tax bill being around $468 and the 75th percentile reaching approximately $1,168. For those in the 90th percentile, the tax bill may go up to $1,731. The highest median tax bill recorded in the area is $758, which is notably lower than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, road maintenance, and emergency services, directly impacting the community's quality of life. Understanding how these taxes are calculated helps homeowners better anticipate their annual expenses and budget accordingly.
Average Lawrenceburg Tax Bill
$758
Average Giles County Tax Bill
$838
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Lawrenceburg, Giles County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38464 | $254 | $468 | $758 | $1,168 | $1,731 |
Source: Ownwell