Saulsbury, Tennessee Property Taxes
The median property tax rate in Saulsbury, TN is 0.77%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With the median home value in Saulsbury at $74,900, the typical annual property tax bill amounts to $584, significantly below the national median of $2,690. Property taxes in Saulsbury are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Saulsbury'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 Saulsbury 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
Saulsbury, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Saulsbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saulsbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saulsbury 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 Saulsbury, Tennessee
Property taxes in Saulsbury, Tennessee, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saulsbury is 0.77%, lower than both the Tennessee state median of 0.71% and the U.S. national median of 0.99%. Local government entities within Saulsbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saulsbury 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 Saulsbury's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38067 zip code has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Saulsbury provides valuable insights into the varying tax landscape across Hardeman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saulsbury Tax Rate
0.77%
Average Hardeman County Tax Rate
0.89%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saulsbury, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38067 | 0.68% | 0.71% | 0.77% | 0.92% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Saulsbury, Tennessee
In Saulsbury, 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 Hardeman County Assessor's Office 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 Saulsbury, 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 Saulsbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Saulsbury is $74,900, with median tax bills ranging from $318 at the 25th percentile to $1,284 at the 90th percentile. The highest and lowest median tax bills both stand at $584 in the 38067 zip code.
Average Saulsbury Assessed Value
$74,900
Average Hardeman County Assessed Value
$64,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saulsbury, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38067 | $14,000 | $32,300 | $74,900 | $129,300 | $184,500 |
Source: Ownwell
Property Tax Bills Across Saulsbury, Tennessee
Property tax bills in Saulsbury, Hardeman County, TN, are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Saulsbury is $74,900. Local tax authorities determine the assessed value, and then the applicable tax rate is applied to this value to calculate the tax bill. Factors such as property size, location, and improvements can influence the assessed value. In Saulsbury, the tax bill can vary significantly. The 25th percentile tax bill is $318, while the 75th percentile reaches $932, and the 90th percentile can go up to $1,284. These figures highlight the range of potential tax burdens on homeowners, depending on their property's assessed value. Comparatively, the national median property tax rate is 0.99%, which provides context for understanding local tax rates. Homeowners in Saulsbury must budget for these taxes, as they are a crucial part of homeownership costs, impacting monthly expenses and long-term financial planning.
Average Saulsbury Tax Bill
$584
Average Hardeman County Tax Bill
$587
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Saulsbury, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38067 | $188 | $318 | $584 | $932 | $1,284 |
Source: Ownwell