Kimball, Tennessee Property Taxes
The median property tax rate in Kimball, TN is 0.46%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Kimball at $20,750, the typical annual property tax bill is just $96, well below the national median of $2,690. Property taxes in Kimball are calculated based on the assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Kimball'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 Kimball or another part of Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kimball, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$95
Ownwell’s Kimball Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kimball with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kimball 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 Marion County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Kimball, Tennessee
Property taxes in Kimball, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kimball is 0.46%, which is below the U.S. national median of 0.99%. Local government entities within Kimball set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kimball 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 Kimball's effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 37347 has both the highest and lowest median property tax rate of 0.46%, matching Kimball's rate. Understanding how these areas compare with Kimball provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kimball Tax Rate
0.46%
Average Marion County Tax Rate
0.44%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kimball, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37347 | 0.46% | 0.46% | 0.46% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Kimball, Tennessee
In Kimball, 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 Marion County Assessor 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 Kimball, 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 Kimball helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kimball is $20,750, with tax bills ranging from $67 at the 25th percentile to $362 at the 90th percentile.
Average Kimball Assessed Value
$20,750
Average Marion County Assessed Value
$88,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kimball, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37347 | $7,500 | $14,600 | $20,750 | $39,375 | $78,500 |
Source: Ownwell
Property Tax Bills Across Kimball, Tennessee
In Kimball, located in Marion County, TN, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the market value of the property, which is determined by the local tax assessor. Once the assessed value is established, the local tax rate, or millage rate, is applied to calculate the annual tax bill. For homeowners in Kimball, the median home price is $20,750. Property taxes in this area can vary significantly. For example, the tax bill at the 25th percentile is $67, while at the 75th percentile, it is $176, and at the 90th percentile, it reaches $362. These variations are influenced by factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Kimball experience relatively lower property taxes. This lower tax burden can make homeownership more affordable but also impacts the local revenue available for public services and infrastructure.
Average Kimball Tax Bill
$96
Average Marion County Tax Bill
$420
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Kimball, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37347 | $34 | $67 | $96 | $176 | $362 |
Source: Ownwell