Guys, Tennessee Property Taxes
The median property tax rate in Guys, TN is 0.39%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Guys at $118,900, the typical annual property tax bill amounts to $465, which is well below the national median of $2,690. Property taxes in Guys are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Guys' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Guys 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
Guys, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$464
Ownwell’s Guys Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Guys with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Guys 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 Guys, Tennessee
Property taxes in Guys, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Guys is 0.39%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Guys set these rates annually, and they can vary significantly across different neighborhoods. Each year, Guys 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 Guys' effective property tax rate to other counties in Tennessee and the national median. For comparison, the highest median property tax rate in the state is significantly higher, while the lowest median tax rate is lower. Understanding how these cities compare with Guys 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 Guys Tax Rate
0.39%
Average Mcnairy County Tax Rate
0.39%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Guys, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38339 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Guys, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Guys, Tennessee. The market value represents 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 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 Guys, 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. The median home price in Guys is $118,900, with the 25th percentile tax bill at $262 and the 75th percentile tax bill at $809. The highest and lowest median tax bills are both $465, found in the zip code 38339. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Guys Assessed Value
$118,900
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 Guys, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38339 | $33,900 | $66,575 | $118,900 | $205,275 | $329,670 |
Source: Ownwell
Property Tax Bills Across Guys, Tennessee
In Guys, located in 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 Guys is $118,900. Local tax authorities determine the assessed value, and this figure is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Homeowners in Guys can expect a wide range of tax bills. For instance, the 25th percentile tax bill is $262, while the 75th percentile reaches $809, and the 90th percentile can go up to $1324. These variations highlight the impact of property value and local tax rates on the overall tax burden. Compared to the national median property tax rate of 0.99%, the tax rates in Guys may offer some relief to homeowners, making it a relatively affordable area for property taxes. However, understanding these factors is crucial for effective financial planning and property management.
Average Guys Tax Bill
$465
Average Mcnairy County Tax Bill
$471
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Guys, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38339 | $135 | $262 | $465 | $809 | $1,324 |
Source: Ownwell