Lauderdale County, Tennessee Property Taxes
The median property tax rate in Lauderdale County is 0.63%, which is slightly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Lauderdale County at $73,500, the typical annual property tax bill is $476, significantly below the national median of $2,690. Property taxes in Lauderdale County are calculated based on the tax assessed value, often lower than the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Lauderdale 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 Ripley or another part of Lauderdale County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lauderdale County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$463
$430
Ownwell’s Lauderdale County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Lauderdale County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Lauderdale County to estimate your property tax bill. This insightful tool 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 Lauderdale County, Tennessee
Property taxes in Lauderdale County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Lauderdale County is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Lauderdale County set these rates annually, and they can vary significantly between different areas within the county. Each year, Lauderdale 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. For comparison, the city of Halls has one of the higher property tax rates in Lauderdale County at 0.64%, while the city of Gates boasts one of the lowest at 0.46%. Analyzing how Lauderdale County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Lauderdale County Tax Rate
0.63%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Lauderdale County, Tennessee
In Lauderdale, 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 Lauderdale 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 Lauderdale 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. Cities in Lauderdale show a range of tax burdens, with Halls having the highest median tax bill at $620 and Gates the lowest at $322. Being aware of these valuation processes in Lauderdale will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Lauderdale County, Tennessee
Source: Ownwell
$61,500
$69,675
$77,850
Average Lauderdale County Assessed Value
$73,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Bills Across Lauderdale County, Tennessee
In Lauderdale County, TN, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Factors such as property size, location, and improvements can influence this value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $73,500, homeowners can expect varying tax bills. The 25th percentile tax bill is around $282, while the 75th percentile reaches $777, and the 90th percentile can go up to $1,196. Different areas within the county also show variations; Halls has the highest median tax bill at $620, whereas Gates has the lowest at $322. These tax bills impact homeowners' annual expenses and can influence decisions on purchasing or maintaining property in the area. Compared to the national median property tax rate of 0.99%, Lauderdale County offers a relatively affordable property tax environment.
Average Lauderdale County Tax Bill
$476
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690