Primm Springs, Tennessee Property Taxes
The median property tax rate in Primm Springs, 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 $167,800 in Primm Springs, the typical annual property tax bill is $776, far below the national median of $2,690. Property taxes in Primm Springs are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Primm Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Primm Springs or another part of Maury County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Primm Springs, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$805
$747
Ownwell’s Primm Springs Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Primm Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Primm Springs to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends on a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Primm Springs, Tennessee
Property taxes in Primm Springs, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Primm Springs is 0.48%, which is lower than the U.S. national median of 0.99%. Local government entities within Primm Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Primm Springs 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 Primm Springs' effective property tax rate to other areas in Tennessee and the national median. For comparison, the 38476 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 Primm Springs 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 Primm Springs 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 Primm Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38476 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Primm Springs, Tennessee
In Primm Springs, 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 Primm Springs, 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. The median home price in Primm Springs stands at $167,800. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The zip code with both the highest and lowest median tax bill is 38476, with a tax bill of $776. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Primm Springs, Tennessee
Source: Ownwell
$20,500
$260,950
$501,400
Average Primm Springs Assessed Value
$167,800
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 Primm Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38476 | $43,280 | $95,275 | $167,800 | $275,025 | $384,210 |
Source: Ownwell
Property Tax Bills Across Primm Springs, Tennessee
Property tax bills in Primm Springs, located in Maury County, TN, are calculated based on the assessed value of a property, which is determined by the local tax assessor's office. The assessed value is typically a percentage of the property's market value. Homeowners in Primm Springs can expect a median property tax bill of $776. This amount can vary significantly, with the 25th percentile at $440 and the 75th percentile reaching $1263. For those at the 90th percentile, tax bills can go up to $1634. Factors that influence the tax bill include the property's location, size, and improvements, as well as the local tax rate set by municipal authorities. Compared to the national median property tax rate of 0.99%, Primm Springs offers relatively moderate property tax bills, making it an attractive location for homeowners. These tax bills fund essential local services such as public schools, infrastructure, and emergency services, directly impacting the community's quality of life.
Average Primm Springs Tax Bill
$776
Average Maury County Tax Bill
$1,525
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Primm Springs, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38476 | $207 | $440 | $776 | $1,263 | $1,634 |
Source: Ownwell