Duck River, Tennessee Property Taxes
The median property tax rate in Duck River, TN is 0.48%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $200,700 in Duck River, the typical annual property tax bill is $958, well below the national median of $2,690. Property taxes in Duck River are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Duck River'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 Duck River or another part of Maury County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Duck River, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$963
$894
Ownwell’s Duck River Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Duck River with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Duck River 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 Duck River, Tennessee
Property taxes in Duck River, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Duck River is 0.48%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Duck River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Duck River 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 Duck River's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38454 zip code has the highest median property tax rate of 0.48%, while the same zip code also has the lowest median tax rate of 0.48%. Understanding how these cities compare with Duck River provides valuable insights into the varying tax landscape across Maury County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Duck River Tax Rate
0.48%
Average Maury County Tax Rate
0.66%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Duck River, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38454 | 0.42% | 0.47% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Duck River, Tennessee
In Duck River, 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 Maury 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 Duck River, 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 Duck River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Duck River is $958.00 in zip code 38454, and the lowest median tax bill is also $958.00 in the same zip code.
Average Duck River Assessed Value
$200,700
Average Maury County Assessed Value
$247,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Duck River, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38454 | $146,830 | $197,950 | $200,700 | $221,825 | $391,970 |
Source: Ownwell
Property Tax Bills Across Duck River, Tennessee
In Duck River, Maury County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $200,700. Homeowners can expect their tax bills to vary depending on several factors, including the property's assessed value and the local tax rate. For instance, the tax bill for properties falls within a range: the 25th percentile tax bill is $936, while the 75th percentile tax bill is $1,060, and the 90th percentile tax bill can go up to $1,565. Compared to the national median property tax rate of 0.99%, Duck River's property taxes may seem relatively moderate. The highest and lowest median tax bills in the area are both $958, indicating a level of consistency in tax assessments. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, thereby influencing the overall quality of life in the community.
Average Duck River Tax Bill
$958
Average Maury County Tax Bill
$1,525
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Duck River, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38454 | $674 | $936 | $958 | $1,060 | $1,565 |
Source: Ownwell