Allons, Overton County, Tennessee Property Taxes
The median property tax rate in Allons, TN is 0.49%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Allons at $111,900, the typical annual property tax bill reaches $555, well below the national median of $2,690. Property taxes in Allons 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 Allons' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Allons or another part of Overton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Allons, Overton County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$548
$509
Ownwell’s Allons Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Allons with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Allons 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 Allons, Overton County, Tennessee
Property taxes in Allons, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Allons is 0.49%, notably lower than the U.S. national median of 0.99%. Local government entities within Allons set these rates annually, and they can vary significantly across different neighborhoods. Each year, Allons 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 Allons' effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38541 zip code has the highest median property tax rate of 0.49%, while the same zip code also has the lowest median tax rate of 0.49%. Understanding how these cities compare with Allons provides valuable insights into the varying tax landscape across Overton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Allons Tax Rate
0.49%
Average Overton County Tax Rate
0.49%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Allons, Overton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38541 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Allons, Overton County, Tennessee
In Allons, 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 Overton 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 Allons, 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 Allons helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $555.00, and the lowest is also $555.00, both in zip code 38541.
Property Tax Assessment Values Across Allons, Overton County, Tennessee
Source: Ownwell
$62,250
$96,075
$129,900
Average Allons Assessed Value
$111,900
Average Overton County Assessed Value
$101,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Allons, Overton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38541 | $37,550 | $63,300 | $111,900 | $173,200 | $260,110 |
Source: Ownwell
Property Tax Bills Across Allons, Overton County, Tennessee
In Allons, property tax bills are calculated based on the assessed value of a home, which is determined by the Overton County property assessor. The assessed value is a percentage of the property's market value. For instance, with a median home price of $111,900, the assessed value forms the basis for the tax calculation. The local tax rate, applied to this assessed value, yields the annual property tax bill. Several factors influence the final tax bill. These include the property's location within Overton County, its assessed value, and any applicable exemptions or reductions. Homeowners in Allons can expect their tax bills to vary, with the 25th percentile bill at $308 and the 75th percentile at $867. The highest median tax bill recorded is $555, which is consistent across the zip code 38541. Understanding how these factors interplay helps homeowners anticipate their annual property tax obligations, ensuring they are better prepared for financial planning and budgeting.
Average Allons Tax Bill
$555
Average Overton County Tax Bill
$570
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Allons, Overton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38541 | $184 | $308 | $555 | $867 | $1,265 |
Source: Ownwell