Savannah, Hardin County, Tennessee Property Taxes
The median property tax rate in Savannah, 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 a median home value of $85,700 in Savannah, the typical annual property tax bill amounts to $806, falling below the national median of $2,690. Property taxes in Savannah are calculated based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Navigating Savannah's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Savannah or elsewhere in Hardin County, understanding the local property tax system is beneficial for homeowners and real estate investors alike.
Last Updated June 14, 2024
Savannah, Hardin County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$660
$612
Ownwell’s Savannah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Savannah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Savannah 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 Savannah, Hardin County, Tennessee
Property taxes in Savannah, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Savannah stands at 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Savannah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Savannah 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 Savannah's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38372 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 Savannah 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 Savannah Tax Rate
0.77%
Average Hardin County Tax Rate
0.70%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Savannah, Hardin County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38372 | 0.58% | 0.65% | 0.77% | 0.96% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Savannah, Hardin County, Tennessee
In Savannah, 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 Savannah, 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 Savannah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Savannah is $85,700, with the highest and lowest median tax bills both being $806 in the 38372 zip code.
Property Tax Assessment Values Across Savannah, Hardin County, Tennessee
Source: Ownwell
$52,400
$93,750
$135,100
Average Savannah Assessed Value
$85,700
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 Savannah, Hardin County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38372 | $28,800 | $51,500 | $85,700 | $148,300 | $263,780 |
Source: Ownwell
Property Tax Bills Across Savannah, Hardin County, Tennessee
In Savannah, located in Hardin County, TN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is typically a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Savannah, the median home price stands at $85,700. Tax bills can vary significantly; the 25th percentile tax bill is $501, while the 75th percentile reaches $1,233. For those at the higher end, the 90th percentile tax bill can be as high as $1,926. Interestingly, the highest and lowest median tax bills in the area are both $806, found in the 38372 zip code. These property taxes are crucial for funding local services such as schools, emergency services, and infrastructure. Understanding how these taxes are calculated helps homeowners budget effectively and anticipate annual expenses. Compared to the national median property tax rate of 0.99%, Savannah's rates offer a glimpse into regional variations in property tax burdens.
Average Savannah Tax Bill
$806
Average Hardin County Tax Bill
$809
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Savannah, Hardin County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38372 | $265 | $501 | $806 | $1,233 | $1,926 |
Source: Ownwell