Henry County, Tennessee Property Taxes
The median property tax rate in Henry County is 0.47%, which is significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $86,700, the typical annual property tax bill in Henry County is $449, far below the national median of $2,690. Property taxes in Henry County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Henry County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Paris or another part of Henry County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Henry County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$407
$378
Ownwell’s Henry County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Henry County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Henry County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Henry County, Tennessee
Property taxes in Henry County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Henry County is 0.47%, which is lower than the U.S. national median of 0.99%. Local government entities within Henry County set these rates annually, and they can vary significantly between different areas within the county. Each year, Henry County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Henry County's effective property tax rate with other counties in Tennessee and the national median. For comparison, the city of Paris has one of the higher property tax rates in Tennessee at 0.60%, while the city of Hollow Rock boasts one of the lowest at 0.47%. Analyzing how Henry County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Henry County Tax Rate
0.47%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Henry County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Buchanan | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
| Cottage Grove | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
| Gleason | N/A | N/A | N/A | N/A | N/A |
| Henry | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
| Hollow Rock | N/A | N/A | N/A | N/A | N/A |
| Mansfield | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
| Mc Kenzie | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
| Paris | 0.47% | 0.47% | 0.60% | 0.60% | 0.60% |
| Puryear | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
| Springville | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Henry County, Tennessee
In Henry County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Henry County Appraisal District. The assessed value, however, 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 Henry County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Henry County, the cities with the highest and lowest median tax bills are Hollow Rock at $1,634 and Gleason at $222, respectively. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Henry County Assessed Value
$86,700
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Henry County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Buchanan | $30,200 | $54,350 | $105,800 | $192,100 | $313,000 |
| Cottage Grove | $32,520 | $52,500 | $93,800 | $165,500 | $315,780 |
| Gleason | N/A | N/A | N/A | N/A | N/A |
| Henry | $23,810 | $42,000 | $69,950 | $129,225 | $208,950 |
| Hollow Rock | N/A | N/A | N/A | N/A | N/A |
| Mansfield | $26,600 | $49,900 | $83,600 | $155,900 | $251,220 |
| Mc Kenzie | $47,640 | $74,550 | $107,400 | $151,850 | $224,040 |
| Paris | $32,100 | $54,700 | $90,100 | $151,900 | $243,960 |
| Puryear | $30,430 | $51,000 | $84,600 | $145,875 | $231,880 |
| Springville | $23,300 | $39,925 | $71,750 | $127,925 | $220,440 |
Source: Ownwell
Property Tax Bills Across Henry County, Tennessee
In Henry County, Tennessee, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners, this means that even modest changes in property value or tax rates can significantly impact their annual tax bill. For example, the median home price in Henry County is $86,700. The 25th percentile of tax bills is around $257, while the 75th percentile reaches approximately $772. At the 90th percentile, tax bills can soar to $1,242. Comparatively, Henry County's property tax rates are lower than the national median property tax rate of 0.99%, making it relatively affordable for homeowners. However, the variability in tax bills, from as low as $222 in Gleason to as high as $1,634 in Hollow Rock, highlights the importance of understanding local property assessments and tax rates.
Average Henry County Tax Bill
$449
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Henry County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Buchanan | $143 | $257 | $500 | $909 | $1,485 |
| Cottage Grove | $154 | $249 | $444 | $783 | $1,495 |
| Gleason | N/A | N/A | N/A | N/A | N/A |
| Henry | $113 | $199 | $331 | $612 | $983 |
| Hollow Rock | N/A | N/A | N/A | N/A | N/A |
| Mansfield | $126 | $236 | $396 | $738 | $1,189 |
| Mc Kenzie | $225 | $353 | $508 | $719 | $1,060 |
| Paris | $179 | $301 | $508 | $826 | $1,275 |
| Puryear | $144 | $241 | $402 | $690 | $1,129 |
| Springville | $110 | $190 | $340 | $608 | $1,051 |
Source: Ownwell