Sequatchie, Tennessee Property Taxes
The median property tax rate in SEQUATCHIE, TN is 0.44%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in SEQUATCHIE, the typical annual property tax bill reaches $266, significantly below the national median of $2,690. Property taxes in SEQUATCHIE are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding SEQUATCHIE's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of SEQUATCHIE or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sequatchie, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$264
Ownwell’s Sequatchie Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Sequatchie with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Sequatchie to project your property tax bill. This valuable tool provides clarity on potential tax liabilities. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property’s assessed value, assigned by the county for property tax calculations, includes any applicable exemptions, giving you a precise estimate of your tax responsibilities.
Property Tax Rates Across Sequatchie, Tennessee
Property taxes in Sequatchie, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sequatchie is 0.44%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Sequatchie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sequatchie 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 Sequatchie's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37374 has both the highest and lowest median property tax rate of 0.44%. Understanding how these areas compare with Sequatchie 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 Sequatchie Tax Rate
0.44%
Average Marion County Tax Rate
0.44%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sequatchie, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37374 | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Sequatchie, Tennessee
In Sequatchie, 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 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 Sequatchie, 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 Sequatchie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 37374, with a median tax bill of $266.
Average Sequatchie Assessed Value
$59,950
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 Sequatchie, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37374 | $11,450 | $31,125 | $59,950 | $124,075 | $212,500 |
Source: Ownwell
Property Tax Bills Across Sequatchie, Tennessee
In Sequatchie, TN, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $59,950, homeowners can expect varying tax bills depending on the assessed value and applicable exemptions. Factors that influence the tax bill include property location, improvements, and any applicable exemptions or abatements. In Marion County, the tax bills can range significantly, with the 25th percentile at $137 and the 75th percentile at $547. The 90th percentile tax bill reaches up to $936. These property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. While the median tax bill in Sequatchie is $266, which is significantly lower than the national median property tax rate of 0.99%, it still represents a crucial financial consideration for residents.
Average Sequatchie Tax Bill
$266
Average Marion County Tax Bill
$420
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Sequatchie, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37374 | $51 | $137 | $266 | $547 | $936 |
Source: Ownwell