Gruetli Laager, Tennessee Property Taxes
The median property tax rate in Gruetli Laager, TN 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 $79,850 in Gruetli Laager, the typical annual property tax bill amounts to $466, significantly below the national median of $2,690. Property taxes in Gruetli Laager are determined 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. Gaining a thorough understanding of Gruetli Laager's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in considerable annual savings. Whether you're in the heart of Gruetli Laager 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
Gruetli Laager, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$479
Ownwell’s Gruetli Laager Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gruetli Laager with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gruetli Laager 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 Gruetli Laager, Tennessee
Property taxes in Gruetli Laager, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gruetli Laager is 0.60%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Gruetli Laager set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gruetli Laager 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 Gruetli Laager's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37339 has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Gruetli Laager provides valuable insights into the varying tax landscape across Grundy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gruetli Laager Tax Rate
0.60%
Average Grundy County Tax Rate
0.60%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gruetli Laager, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37339 | 0.52% | 0.54% | 0.60% | 0.60% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Gruetli Laager, Tennessee
In Gruetli Laager, 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 Grundy County Assessor 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 Gruetli Laager, 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 Gruetli Laager helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $466.00 in the 37339 zip code area.
Property Tax Assessment Values Across Gruetli Laager, Tennessee
Source: Ownwell
$47,600
$103,550
$159,500
Average Gruetli Laager Assessed Value
$79,850
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 Gruetli Laager, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37339 | $24,270 | $48,950 | $79,850 | $121,875 | $171,050 |
Source: Ownwell
Property Tax Bills Across Gruetli Laager, Tennessee
In Gruetli Laager, located in Grundy County, TN, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined through periodic evaluations. The tax rate is set by the local government and applied to the assessed value to compute the tax bill. For homeowners, the median home price in Gruetli Laager stands at $79,850. Given the local tax dynamics, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $286, while the 75th percentile tax bill is $723. The 90th percentile tax bill reaches up to $1,026. These figures illustrate the range of tax obligations that homeowners might encounter, depending on their property's assessed value and specific tax rate. Compared to the national median property tax rate of 0.99%, Gruetli Laager's tax rates can present a more affordable scenario for many homeowners, contributing to the overall appeal of living in this area.
Average Gruetli Laager Tax Bill
$466
Average Grundy County Tax Bill
$512
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Gruetli Laager, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37339 | $126 | $286 | $466 | $723 | $1,026 |
Source: Ownwell