Strawberry Plains, Jefferson County, Tennessee Property Taxes
The median property tax rate in Strawberry Plains, TN is 0.55%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $87,950 in Strawberry Plains, the typical annual property tax bill is $482, well below the national median of $2,690. Property taxes in Strawberry Plains are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Strawberry Plains' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Strawberry Plains or another part of Jefferson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Strawberry Plains, Jefferson County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$484
$449
Ownwell’s Strawberry Plains Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Strawberry Plains with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Strawberry Plains 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 Jefferson County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Strawberry Plains, Jefferson County, Tennessee
Property taxes in Strawberry Plains, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Strawberry Plains is 0.55%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Strawberry Plains set these rates annually, and they can vary significantly across different neighborhoods. Each year, Strawberry Plains 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 Strawberry Plains' effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37871 zip code has the highest median property tax rate of 0.55%, while the 37871 zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Strawberry Plains 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.
Property Tax Rates Across Strawberry Plains, Jefferson County, Tennessee
Source: Ownwell
0.55%
0.70%
0.85%
Average Strawberry Plains Tax Rate
0.55%
Average Jefferson County Tax Rate
0.55%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Strawberry Plains, Jefferson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37871 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Strawberry Plains, Jefferson County, Tennessee
Understanding the distinction between "market value" and "assessed value" is essential for grasping property taxes in Strawberry Plains, Tennessee. Market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Jefferson County Appraisal District for tax purposes. Conversely, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. Your property taxes are calculated by multiplying the assessed value by the combined tax rates of all relevant taxing entities. In Strawberry Plains, assessment notices are generally mailed out in the spring, typically by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. Understanding these valuation concepts allows property owners to better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Strawberry Plains is $87,950. The tax bills range significantly, with the 25th percentile at $341 and the 75th percentile at $717. The highest and lowest median tax bill both stand at $482 in the 37871 zip code, highlighting the uniformity in this area.
Property Tax Assessment Values Across Strawberry Plains, Jefferson County, Tennessee
Source: Ownwell
$58,300
$108,625
$158,950
Average Strawberry Plains Assessed Value
$87,950
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 Strawberry Plains, Jefferson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37871 | $33,540 | $62,325 | $87,950 | $130,900 | $201,800 |
Source: Ownwell
Property Tax Bills Across Strawberry Plains, Jefferson County, Tennessee
In Strawberry Plains, TN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the Jefferson County property assessor and is a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For instance, the median home price in Strawberry Plains is $87,950. Homeowners in this area can expect tax bills ranging from $341 at the 25th percentile to $1,105 at the 90th percentile, with a median tax bill of $482. This is significantly lower than the national median property tax rate of 0.99%, making it a relatively affordable area for homeowners. Understanding these factors helps homeowners anticipate their annual property tax obligations, allowing for better financial planning and management of housing costs.
Average Strawberry Plains Tax Bill
$482
Average Jefferson County Tax Bill
$726
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Strawberry Plains, Jefferson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37871 | $183 | $341 | $482 | $717 | $1,105 |
Source: Ownwell