Kyles Ford, Tennessee Property Taxes
The median property tax rate in Kyles Ford, TN is 0.55%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $91,900 in Kyles Ford, the typical annual property tax bill amounts to $508, which is well below the national median of $2,690. Property taxes in Kyles Ford are calculated based on the tax assessed value, which often comes in lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Kyles Ford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you reside in Kyles Ford or another part of Hancock County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kyles Ford, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$505
$469
Ownwell’s Kyles Ford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kyles Ford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kyles Ford 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 Kyles Ford, Tennessee
Property taxes in Kyles Ford, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kyles Ford is 0.55%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Kyles Ford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kyles Ford 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 Kyles Ford's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37765 zip code has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Kyles Ford provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kyles Ford Tax Rate
0.55%
Average Hancock County Tax Rate
0.55%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kyles Ford, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37765 | 0.55% | 0.55% | 0.55% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Kyles Ford, Tennessee
In Kyles Ford, 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 Kyles Ford, 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 Kyles Ford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kyles Ford is $91,900, with tax bills ranging from $308 at the 25th percentile to $954 at the 90th percentile. The zip code 37765 has both the highest and lowest median tax bill, valued at $508.
Average Kyles Ford Assessed Value
$91,900
Average Hancock County Assessed Value
$96,450
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kyles Ford, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37765 | $25,440 | $54,800 | $91,900 | $130,550 | $172,020 |
Source: Ownwell
Property Tax Bills Across Kyles Ford, Tennessee
In Kyles Ford, located in Hancock County, TN, property tax bills are calculated based on the assessed value of a property. The process begins with the county assessor determining the market value of a home, which is then assessed at a percentage of that value. For example, with a median home price of $91,900, the assessed value is derived from this figure. The local tax rate is then applied to the assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, improvements, and market trends. Homeowners in Kyles Ford can expect their property tax bills to vary significantly. For instance, tax bills at the 25th percentile are around $308, while those at the 75th percentile reach approximately $720. At the 90th percentile, tax bills can be as high as $954. This variation underscores the importance of understanding how assessments and local tax rates impact overall costs. Compared to the national median property tax rate of 0.99%, Kyles Ford's property tax rates reflect the local economic conditions and property values.
Average Kyles Ford Tax Bill
$508
Average Hancock County Tax Bill
$528
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Kyles Ford, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37765 | $134 | $308 | $508 | $720 | $954 |
Source: Ownwell