Lawrence County, Tennessee Property Taxes
The median property tax rate in Lawrence County is 0.50%, which is notably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $151,000 in Lawrence County, the typical annual property tax bill amounts to $875, significantly below the national median of $2,690. Property taxes in Lawrence County are calculated based on the tax assessed value, which is often less than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Lawrence County’s specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can lead to substantial annual savings. Whether you reside in Lawrenceburg or another part of Lawrence County, gaining a comprehensive understanding of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lawrence County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$755
$701
Ownwell’s Lawrence County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Lawrence County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Lawrence County to estimate your property tax bill. This insight 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 Lawrence County, Tennessee
Property taxes in Lawrence County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Lawrence County is 0.50%, which is lower than the U.S. national median of 0.99%. Local government entities within Lawrence County set these rates annually, and they can vary significantly between different areas within the county. Each year, Lawrence 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. The following data compares Lawrence County's effective property tax rate with other counties in Tennessee and the national median. For comparison, the city of Saint Joseph has one of the higher property tax rates in Tennessee at 0.62%, while the city of Iron City boasts one of the lowest at 0.50%. Analyzing how Lawrence County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Lawrence County Tax Rate
0.50%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lawrence County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ethridge | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
| Five Points | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
| Iron City | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
| Lawrenceburg | 0.50% | 0.50% | 0.51% | 0.78% | 0.78% |
| Leoma | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
| Loretto | 0.50% | 0.50% | 0.50% | 0.59% | 0.59% |
| Minor Hill | N/A | N/A | N/A | N/A | N/A |
| Mount Pleasant | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
| Mt Pleasant | N/A | N/A | N/A | N/A | N/A |
| Saint Joseph | 0.50% | 0.62% | 0.62% | 0.62% | 0.62% |
| Summertown | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
| Westpoint | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Lawrence County, Tennessee
In Lawrence County, 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 Lawrence County 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 Lawrence County 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. For instance, the highest median tax bill in Lawrence County is in Mount Pleasant at $1,350, while the lowest is in Iron City at $430. Being aware of these valuation processes in Lawrence County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Lawrence County, Tennessee
Source: Ownwell
$88,700
$176,475
$264,250
Average Lawrence County Assessed Value
$151,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lawrence County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ethridge | $39,480 | $88,800 | $142,800 | $211,300 | $309,240 |
| Five Points | $38,550 | $90,025 | $140,150 | $224,700 | $331,650 |
| Iron City | $21,630 | $49,025 | $88,700 | $133,550 | $205,140 |
| Lawrenceburg | $52,200 | $97,425 | $150,200 | $213,275 | $302,070 |
| Leoma | $42,110 | $97,400 | $159,850 | $229,700 | $322,030 |
| Loretto | $58,180 | $104,700 | $158,300 | $231,975 | $330,750 |
| Minor Hill | N/A | N/A | N/A | N/A | N/A |
| Mount Pleasant | $114,040 | $188,475 | $264,250 | $315,425 | $366,530 |
| Mt Pleasant | N/A | N/A | N/A | N/A | N/A |
| Saint Joseph | $27,480 | $72,500 | $121,700 | $190,800 | $273,160 |
| Summertown | $36,810 | $87,025 | $168,750 | $242,250 | $326,290 |
| Westpoint | $32,600 | $72,200 | $118,650 | $190,650 | $289,300 |
Source: Ownwell
Property Tax Bills Across Lawrence County, Tennessee
In Lawrence County, TN, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is evaluated by local authorities. Several factors influence this calculation, including property location, size, and condition. For instance, the median home price in Lawrence County is $151,000. Homeowners in the 25th percentile of tax bills pay around $537 annually, while those in the 75th percentile pay approximately $1,260. The 90th percentile sees tax bills as high as $1,765. Notably, Mount Pleasant has the highest median tax bill at $1,350, whereas Iron City has the lowest at $430. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Lawrence County's tax rates offer a varied range, reflecting the diverse property values and local tax policies within the region.
Average Lawrence County Tax Bill
$875
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Lawrence County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Ethridge | $201 | $447 | $723 | $1,078 | $1,558 |
| Five Points | $184 | $439 | $702 | $1,124 | $1,664 |
| Iron City | $115 | $245 | $430 | $673 | $1,035 |
| Lawrenceburg | $318 | $618 | $951 | $1,339 | $1,895 |
| Leoma | $208 | $492 | $817 | $1,174 | $1,658 |
| Loretto | $297 | $576 | $870 | $1,230 | $1,738 |
| Minor Hill | N/A | N/A | N/A | N/A | N/A |
| Mount Pleasant | $580 | $991 | $1,350 | $1,611 | $1,942 |
| Mt Pleasant | N/A | N/A | N/A | N/A | N/A |
| Saint Joseph | $163 | $444 | $748 | $1,144 | $1,623 |
| Summertown | $176 | $436 | $856 | $1,228 | $1,643 |
| Westpoint | $158 | $356 | $590 | $975 | $1,443 |
Source: Ownwell