Crump, Hardin County, Tennessee Property Taxes
The median property tax rate in Crump, TN is 0.65%, slightly higher than the Tennessee state median of 0.64% but still below the national median of 0.99%. With a median home value of $70,700 in Crump, the typical annual property tax bill is $682, which is significantly lower than the national median of $2,690. Property taxes in Crump are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Crump'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 Crump or another part of Hardin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crump, Hardin County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$460
$426
Ownwell’s Crump Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crump with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crump 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 Hardin County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Crump, Hardin County, Tennessee
Property taxes in Crump, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crump is 0.65%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Crump set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crump 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 Crump's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38327 zip code has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these areas compare with Crump provides valuable insights into the varying tax landscape across Hardin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crump Tax Rate
0.65%
Average Hardin County Tax Rate
0.70%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crump, Hardin County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38327 | 0.54% | 0.59% | 0.65% | 0.81% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Crump, Hardin County, Tennessee
In Crump, 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 Hardin 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 Crump, 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 Crump helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Crump are both $682, found in the zip code 38327.
Property Tax Assessment Values Across Crump, Hardin County, Tennessee
Source: Ownwell
$52,400
$93,750
$135,100
Average Crump Assessed Value
$70,700
Average Hardin County Assessed Value
$89,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crump, Hardin County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38327 | $14,300 | $34,200 | $70,700 | $121,700 | $169,020 |
Source: Ownwell
Property Tax Bills Across Crump, Hardin County, Tennessee
In Crump, located in Hardin County, TN, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Crump is $70,700. Property taxes are then determined by applying the local tax rate to this assessed value. For instance, if a home has an assessed value of $70,700 and the local tax rate is 0.99%, the tax bill would be approximately $700. Factors such as property improvements, neighborhood changes, and market trends can influence the assessed value, thereby affecting the tax bill. Homeowners in Crump experience a range of property tax bills, with the 25th percentile paying around $441, the 75th percentile at $923, and the 90th percentile reaching up to $1,210. This variability underscores how individual property characteristics and local assessments impact tax obligations. Compared to the national median property tax rate of 0.99%, Crump's property taxes are relatively moderate, providing a balanced fiscal environment for homeowners.
Average Crump Tax Bill
$682
Average Hardin County Tax Bill
$809
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Crump, Hardin County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38327 | $258 | $441 | $682 | $923 | $1,210 |
Source: Ownwell