Nunnelly, Tennessee Property Taxes
The median property tax rate in Nunnelly, TN is 0.56%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Nunnelly, the typical annual property tax bill reaches $10, significantly below the national median of $2,690. Property taxes in Nunnelly are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Nunnelly'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 Nunnelly or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nunnelly, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$10
Ownwell’s Nunnelly Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Nunnelly with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Nunnelly to estimate your property tax bill. This valuable tool provides clarity on potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Nunnelly, Tennessee
Property taxes in Nunnelly, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nunnelly is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Nunnelly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nunnelly 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 Nunnelly's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37137 has both the highest and lowest median property tax rate in the region at 0.56%. Understanding how these cities compare with Nunnelly provides valuable insights into the varying tax landscape across Hickman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nunnelly Tax Rate
0.56%
Average Hickman County Tax Rate
0.58%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nunnelly, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37137 | 0.56% | 0.56% | 0.56% | 0.58% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Nunnelly, Tennessee
In Nunnelly, 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 Hickman 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 Nunnelly, 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 Nunnelly helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the tax bills in the area range significantly, with the 25th percentile at $10 and the 90th percentile reaching $766.
Average Nunnelly Assessed Value
$1,800
Average Hickman County Assessed Value
$65,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nunnelly, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37137 | $1,800 | $1,800 | $1,800 | $29,400 | $134,200 |
Source: Ownwell
Property Tax Bills Across Nunnelly, Tennessee
In Nunnelly, located in Hickman County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Factors such as property size, location, and improvements can influence this valuation. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Nunnelly, tax bills can vary significantly. For instance, those in the 25th percentile pay around $10 annually, while those in the 75th percentile face a tax bill of approximately $166. At the higher end, homeowners in the 90th percentile may see tax bills as high as $766. These property taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting the quality of life in Nunnelly. Understanding how these taxes are calculated helps homeowners anticipate their financial obligations and plan accordingly.
Average Nunnelly Tax Bill
$10
Average Hickman County Tax Bill
$379
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Nunnelly, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37137 | $10 | $10 | $10 | $166 | $766 |
Source: Ownwell