Sequatchie, Tennessee Property Taxes
The median property tax rate in Sequatchie, TN is 0.54%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $47,600 in Sequatchie, the typical annual property tax bill amounts to $278, which is well below the national median of $2,690. Property taxes in Sequatchie are calculated based on the assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Sequatchie's property tax system, exploring available exemptions, and identifying potential reductions can result in substantial annual savings. Whether you're in Sequatchie or another part of Grundy County, understanding the local property tax dynamics can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sequatchie, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$257
$239
Ownwell’s Sequatchie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sequatchie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sequatchie 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 Sequatchie, Tennessee
Property taxes in Sequatchie, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sequatchie is 0.54%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Sequatchie set these rates annually, and they can vary across different neighborhoods. Each year, Sequatchie 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 Sequatchie's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37374 in Grundy County has the same median property tax rate of 0.54%. Understanding how these cities compare with Sequatchie 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 Sequatchie Tax Rate
0.54%
Average Grundy County Tax Rate
0.60%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sequatchie, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37374 | 0.52% | 0.53% | 0.54% | 0.59% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Sequatchie, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sequatchie, Tennessee. 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 Sequatchie, 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 Sequatchie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Sequatchie is $47,600, with tax bills ranging from $164 at the 25th percentile to $725 at the 90th percentile. The zip code 37374 has the highest and lowest median tax bill of $278.
Average Sequatchie Assessed Value
$47,600
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 Sequatchie, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37374 | $17,180 | $30,900 | $47,600 | $73,100 | $124,220 |
Source: Ownwell
Property Tax Bills Across Sequatchie, Tennessee
In Sequatchie, located in Grundy County, TN, property tax bills are calculated based on the assessed value of the property. The assessed value is typically a percentage of the property's market value, which is determined by the local assessor. For instance, if the median home price is $47,600, the assessed value will be a fraction of this amount. The local tax rate is then applied to the assessed value to determine the annual tax bill. Several factors influence the tax bill, including property location, improvements, and local tax rates. For Sequatchie, the median property tax bill stands at $278, which is significantly lower than the national median property tax rate of 0.99%. Homeowners in the 25th percentile pay around $164, while those in the 75th percentile pay approximately $435. The highest tax bills, in the 90th percentile, can reach up to $725. These variations can significantly impact homeowners' financial planning and budgeting.
Average Sequatchie Tax Bill
$278
Average Grundy County Tax Bill
$512
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Sequatchie, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37374 | $92 | $164 | $278 | $435 | $725 |
Source: Ownwell