Jefferson City, Tennessee Property Taxes
The median property tax rate in Jefferson City, TN is 0.85%, which is below the national median of 0.99% but higher than the Tennessee state median of 0.64%. With a median home value of $117,600, the typical annual property tax bill in Jefferson City amounts to $869, which is significantly lower than the national median of $2,690. Property taxes in Jefferson City are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Jefferson City'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 Jefferson City 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
Jefferson City, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,000
Ownwell’s Jefferson City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jefferson City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jefferson City 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 Jefferson City, Tennessee
Property taxes in Jefferson City, Tennessee, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Jefferson City is 0.85%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Jefferson City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jefferson City 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 Jefferson City's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37760 has the highest median property tax rate of 0.85%, while the same zip code 37760 also has the lowest median tax rate of 0.85%. Understanding how these areas compare with Jefferson City provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jefferson City Tax Rate
0.85%
Average Jefferson County Tax Rate
0.55%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jefferson City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37760 | 0.55% | 0.55% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson City, Tennessee
In Jefferson City, 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 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. In Jefferson City, 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 Jefferson City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both stand at $869.00, found in the 37760 zip code.
Property Tax Assessment Values Across Jefferson City, Tennessee
Source: Ownwell
$58,300
$209,700
$361,100
Average Jefferson City Assessed Value
$117,600
Average Jefferson County Assessed Value
$119,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jefferson City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37760 | $39,060 | $75,150 | $117,600 | $183,850 | $266,140 |
Source: Ownwell
Property Tax Bills Across Jefferson City, Tennessee
In Jefferson City, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Jefferson City is $117,600. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the local tax rate and any applicable exemptions or deductions. For homeowners in Jefferson City, the tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $518, while at the 75th percentile, it rises to $1,252. The 90th percentile tax bill can go up to $1,658. Comparatively, the national median property tax rate is 0.99%, which allows homeowners to gauge how their local rates compare to the broader national landscape. These tax bills directly impact homeowners' annual expenses, influencing their overall cost of living and financial planning. Understanding how these factors interplay can help homeowners better anticipate their property tax obligations and manage their budgets accordingly.
Average Jefferson City Tax Bill
$869
Average Jefferson County Tax Bill
$726
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Jefferson City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37760 | $291 | $518 | $869 | $1,252 | $1,658 |
Source: Ownwell