Wildersville, Tennessee Property Taxes
The median property tax rate in Wildersville, TN is 0.59%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Wildersville at $76,400, the typical annual property tax bill is $448, well below the national median of $2,690. Property taxes in Wildersville are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Wildersville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Wildersville or another part of Henderson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wildersville, 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 Wildersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wildersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wildersville 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 Wildersville, Tennessee
Property taxes in Wildersville, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wildersville is 0.59%, which is significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Wildersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wildersville 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 Wildersville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38388 zip code has the highest median property tax rate of 0.59%, while also having the lowest median tax rate of 0.59%. Understanding how these cities compare with Wildersville provides valuable insights into the varying tax landscape across Henderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wildersville Tax Rate
0.59%
Average Henderson County Tax Rate
0.59%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wildersville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38388 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Wildersville, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wildersville, Tennessee. 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. Assessment notices in Wildersville 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 Wildersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 38388 has both the highest and lowest median tax bill at $448.
Average Wildersville Assessed Value
$76,400
Average Henderson County Assessed Value
$78,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wildersville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38388 | $17,700 | $36,800 | $76,400 | $132,600 | $190,220 |
Source: Ownwell
Property Tax Bills Across Wildersville, Tennessee
In Wildersville, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined through periodic assessments. For homeowners in Wildersville, the median home price stands at $76,400. The tax bills can vary significantly, with the 25th percentile tax bill being $214 and the 75th percentile reaching $792. At the 90th percentile, homeowners can expect a tax bill of around $1,133. Compared to the national median property tax rate of 0.99%, Wildersville’s property tax bills reflect the local economic conditions and assessment practices. This variation in tax bills can influence the overall affordability and financial planning for homeowners in the area. Understanding these factors is crucial for residents to anticipate their annual property tax liabilities and manage their budgets effectively.
Average Wildersville Tax Bill
$448
Average Henderson County Tax Bill
$514
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Wildersville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38388 | $103 | $214 | $448 | $792 | $1,133 |
Source: Ownwell