Lupton City, Hamilton County, Tennessee Property Taxes
The median property tax rate in Lupton City, TN is 0.56%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Lupton City at $91,700, the typical annual property tax bill is $515, well below the national median of $2,690. Property taxes in Lupton City 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 Lupton City'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 Lupton City or another part of Hamilton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lupton City, Hamilton County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$514
$477
Ownwell’s Lupton City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lupton City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lupton City 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 Lupton City, Hamilton County, Tennessee
Property taxes in Lupton City, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lupton City is 0.56%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Lupton City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lupton City 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 Lupton City's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37351 zip code has the highest median property tax rate of 0.56%, while the same 37351 zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Lupton City provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lupton City Tax Rate
0.56%
Average Hamilton County Tax Rate
0.56%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lupton City, Hamilton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37351 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Lupton City, Hamilton County, Tennessee
In Lupton City, 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 Hamilton County 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 Lupton City, 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 Lupton City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 37351, with a median tax bill of $515, while the same zip code also has the lowest median tax bill of $515.
Property Tax Assessment Values Across Lupton City, Hamilton County, Tennessee
Source: Ownwell
$44,900
$299,425
$553,950
Average Lupton City Assessed Value
$91,700
Average Hamilton County Assessed Value
$194,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lupton City, Hamilton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37351 | $75,000 | $79,900 | $91,700 | $119,850 | $159,940 |
Source: Ownwell
Property Tax Bills Across Lupton City, Hamilton County, Tennessee
In Lupton City, TN, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is typically a percentage of the market value, determined by local tax authorities. For homeowners in Hamilton County, the median home price is $91,700. Tax bills can vary significantly, with the 25th percentile paying around $447 and the 75th percentile paying about $674 annually. The 90th percentile sees tax bills as high as $895. Factors influencing the tax bill include the property’s assessed value, the local tax rate, and any applicable exemptions or deductions. Comparing this to the national median property tax rate of 0.99%, Lupton City homeowners generally experience lower tax rates. These property taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the community's quality of life. Homeowners must budget for these taxes as part of their annual housing costs, ensuring they remain current to avoid penalties.
Average Lupton City Tax Bill
$515
Average Hamilton County Tax Bill
$1,209
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Lupton City, Hamilton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37351 | $419 | $447 | $515 | $674 | $895 |
Source: Ownwell