Trade, Johnson County, Tennessee Property Taxes
The median property tax rate in Trade, TN is 0.45%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Trade, the typical annual property tax bill amounts to $494, which is well below the national median of $2,690. Property taxes in Trade are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Trade'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 Trade 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
Trade, Johnson County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$491
$456
Ownwell’s TRADE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TRADE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TRADE 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 Trade, Johnson County, Tennessee
Property taxes in Trade, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Trade is 0.45%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Trade set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trade 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 Trade's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37691 zip code has both the highest and lowest median property tax rate of 0.45%. Understanding how these areas compare with Trade provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Trade Tax Rate
0.45%
Average Johnson County Tax Rate
0.45%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trade, Johnson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37691 | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Trade, Johnson County, Tennessee
In TRADE, 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 Johnson 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 TRADE, 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 TRADE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in TRADE is $494.00 in zip code 37691, which is significantly lower than the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Trade, Johnson County, Tennessee
Source: Ownwell
$76,100
$92,600
$109,100
Average Trade Assessed Value
$109,100
Average Johnson County Assessed Value
$99,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Trade, Johnson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37691 | $32,300 | $65,425 | $109,100 | $168,475 | $243,930 |
Source: Ownwell
Property Tax Bills Across Trade, Johnson County, Tennessee
In TRADE, Johnson County, 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 county assessor and represents a percentage of the property's market value. For instance, a home with a median market price of $109,100 would have its assessed value set by the county. The local tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including property improvements, neighborhood changes, and local government budgets. Homeowners in TRADE might see a range of tax bills, with the 25th percentile at $296 and the 75th percentile reaching $763. For those in the 90th percentile, tax bills can go up to $1,105. These figures show that property taxes can significantly impact household budgets, making it essential for homeowners to understand how their tax bills are calculated and to explore any available exemptions or appeals to potentially lower their tax burden.
Average Trade Tax Bill
$494
Average Johnson County Tax Bill
$480
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Trade, Johnson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37691 | $146 | $296 | $494 | $763 | $1,105 |
Source: Ownwell