Yuma, Tennessee Property Taxes
The median property tax rate in Yuma, TN is 0.59%, which is notably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Yuma at $113,100, the typical annual property tax bill amounts to $671, significantly below the national median of $2,690. Property taxes in Yuma are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Yuma'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 Yuma or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yuma, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$667
$619
Ownwell’s Yuma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yuma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yuma 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 Yuma, Tennessee
Property taxes in Yuma, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yuma 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 Yuma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yuma 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 Yuma's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38390 has both the highest and lowest median property tax rate of 0.59%. Understanding how these cities compare with Yuma 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 Yuma 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 Yuma, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38390 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Yuma, Tennessee
In Yuma, 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 Henderson 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. 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 Yuma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Yuma, the highest median tax bill is $671.00 in the 38390 zip code, while the lowest median tax bill is also $671.00 in the same zip code.
Average Yuma Assessed Value
$113,100
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 Yuma, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38390 | $30,000 | $60,500 | $113,100 | $147,900 | $238,000 |
Source: Ownwell
Property Tax Bills Across Yuma, Tennessee
In Yuma, Henderson County, TN, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value typically represents a percentage of the market value, and this percentage can vary. Homeowners in Yuma face property tax bills that can range significantly, depending on various factors such as property location and size. For instance, the median home price in Yuma is $113,100, and property tax bills can vary widely. The tax bill at the 25th percentile is $359, while at the 75th percentile, it rises to $876. For those at the 90th percentile, the tax bill can reach up to $1,410. These figures indicate that property taxes can have a considerable impact on homeowners' annual expenses. Compared to the national median property tax rate of 0.99%, Yuma's property tax rates can be relatively moderate, offering some financial relief to homeowners in the area. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Yuma Tax Bill
$671
Average Henderson County Tax Bill
$514
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Yuma, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38390 | $178 | $359 | $671 | $876 | $1,410 |
Source: Ownwell