Grundy County, Tennessee Property Taxes
The median property tax rate in Grundy County is 0.60%, which is notably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $82,800 in Grundy County, the typical annual property tax bill amounts to $512, significantly below the national median of $2,690. Property taxes in Grundy County are calculated based on the tax assessed value, which usually falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Grundy County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Tracy City or another part of Grundy County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grundy County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$497
$461
Ownwell’s Grundy County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Grundy County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Grundy County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Grundy County, Tennessee
Property taxes in Grundy County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Grundy County is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Grundy County set these rates annually, and they can vary significantly between different areas within the county. Each year, Grundy County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Grundy County's effective property tax rate with other counties in Tennessee and the national median. For comparison, the city of Tracy City has one of the higher property tax rates in Tennessee at 0.61%, while the city of Sequatchie boasts one of the lowest at 0.54%. Analyzing how Grundy County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Grundy County Tax Rate
0.60%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grundy County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Altamont | 0.52% | 0.53% | 0.58% | 0.60% | 0.61% |
| Beersheba Springs | 0.53% | 0.53% | 0.59% | 0.60% | 0.61% |
| Coalmont | 0.52% | 0.54% | 0.59% | 0.60% | 0.61% |
| Gruetli Laager | 0.52% | 0.54% | 0.60% | 0.60% | 0.61% |
| Mcminnville | 0.50% | 0.53% | 0.57% | 0.60% | 0.60% |
| Monteagle | 0.53% | 0.58% | 0.59% | 0.60% | 0.60% |
| Morrison | 0.51% | 0.53% | 0.58% | 0.60% | 0.61% |
| Palmer | 0.52% | 0.54% | 0.60% | 0.61% | 0.61% |
| Pelham | 0.51% | 0.54% | 0.59% | 0.60% | 0.61% |
| Sequatchie | 0.52% | 0.53% | 0.54% | 0.59% | 0.60% |
| Tracy City | 0.53% | 0.59% | 0.61% | 0.75% | 0.76% |
| Whitwell | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Grundy County, Tennessee
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Grundy County, TN. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Grundy County Appraisal District. The assessed value, however, 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. Assessment notices in Grundy County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Grundy County, the city with the highest median tax bill is Whitwell at $948, while Sequatchie has the lowest at $278. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Grundy County Assessed Value
$82,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grundy County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Altamont | $21,530 | $38,425 | $78,850 | $136,600 | $214,840 |
| Beersheba Springs | $23,500 | $38,200 | $67,500 | $121,100 | $188,320 |
| Coalmont | $25,240 | $53,500 | $90,700 | $148,500 | $239,740 |
| Gruetli Laager | $24,270 | $48,950 | $79,850 | $121,875 | $171,050 |
| Mcminnville | $27,700 | $50,900 | $80,100 | $132,600 | $246,640 |
| Monteagle | $42,350 | $68,850 | $138,550 | $315,850 | $468,500 |
| Morrison | $34,580 | $47,525 | $82,350 | $173,525 | $238,000 |
| Palmer | $21,800 | $41,700 | $69,100 | $104,700 | $155,420 |
| Pelham | $37,350 | $62,700 | $100,200 | $161,150 | $248,540 |
| Sequatchie | $17,180 | $30,900 | $47,600 | $73,100 | $124,220 |
| Tracy City | $24,000 | $50,600 | $79,700 | $129,600 | $186,360 |
| Whitwell | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Grundy County, Tennessee
In Grundy County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the market value of the property. For homeowners in Grundy County, the median home price is $82,800. Property tax rates are applied to this assessed value to calculate the annual tax bill. Factors such as property location, improvements, and market conditions can influence the assessed value. Tax bills in Grundy County vary significantly, with the 25th percentile at $292 and the 75th percentile at $857. The highest median tax bill is in Whitwell at $948, while the lowest is in Sequatchie at $278. These property taxes fund essential local services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Grundy County's rates can provide a relatively affordable option for homeowners, affecting their overall cost of living and financial planning.
Average Grundy County Tax Bill
$512
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Grundy County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Altamont | $113 | $204 | $464 | $798 | $1,273 |
| Beersheba Springs | $119 | $210 | $394 | $705 | $1,120 |
| Coalmont | $131 | $294 | $547 | $873 | $1,417 |
| Gruetli Laager | $126 | $286 | $466 | $723 | $1,026 |
| Mcminnville | $148 | $284 | $441 | $728 | $1,437 |
| Monteagle | $234 | $404 | $827 | $1,870 | $2,785 |
| Morrison | $186 | $280 | $451 | $928 | $1,264 |
| Palmer | $112 | $225 | $415 | $632 | $934 |
| Pelham | $187 | $360 | $590 | $937 | $1,387 |
| Sequatchie | $92 | $164 | $278 | $435 | $725 |
| Tracy City | $140 | $312 | $528 | $852 | $1,283 |
| Whitwell | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell