Adamsville, Tennessee Property Taxes
The median property tax rate in Adamsville, TN is 0.57%, notably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Adamsville at $105,000, the typical annual property tax bill is $509, significantly below the national median of $2,690. Property taxes in Adamsville are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Adamsville'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 Adamsville or another part of McNairy County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Adamsville, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Adamsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Adamsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Adamsville 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 Adamsville, Tennessee
Property taxes in Adamsville, Tennessee, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Adamsville is 0.57%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Adamsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Adamsville 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 Adamsville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38310 has the highest median property tax rate of 0.57%, while the same zip code also has the lowest median tax rate of 0.57%. Understanding how these cities compare with Adamsville provides valuable insights into the varying tax landscape across McNairy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Adamsville Tax Rate
0.57%
Average Mcnairy County Tax Rate
0.39%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Adamsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38310 | 0.39% | 0.39% | 0.57% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Adamsville, Tennessee
In Adamsville, 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 McNairy County Assessor of Property 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. Assessment notices in Adamsville 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 Adamsville is $105,000, with tax bills ranging from $306 at the 25th percentile to $1,246 at the 90th percentile. Zip code 38310 has the highest median tax bill at $509. 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 Adamsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Adamsville Assessed Value
$105,000
Average Mcnairy County Assessed Value
$107,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Adamsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38310 | $33,660 | $64,700 | $105,000 | $165,500 | $248,760 |
Source: Ownwell
Property Tax Bills Across Adamsville, Tennessee
In Adamsville, McNairy 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 Adamsville is $105,000. Local tax authorities apply a specific tax rate to this assessed value to determine the annual property tax bill. Factors influencing the tax bill include the property's location, its assessed value, and any applicable exemptions or deductions. Homeowners in Adamsville experience a range of property tax bills. For instance, the tax bill at the 25th percentile is $306, while at the 75th percentile, it rises to $800. Those at the 90th percentile see a tax bill of $1,246. The highest and lowest median tax bills in the area are both $509, indicating a relatively consistent tax rate within the zip code 38310. Compared to the national median property tax rate of 0.99%, Adamsville's rates are relatively moderate, providing some financial relief to homeowners.
Average Adamsville Tax Bill
$509
Average Mcnairy County Tax Bill
$471
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Adamsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38310 | $147 | $306 | $509 | $800 | $1,246 |
Source: Ownwell