Allred, Overton County, Tennessee Property Taxes
The median property tax rate in Allred, TN is 0.49%, significantly lower than both the national median of 0.99% and Tennessee's state median of 0.64%. With a median home value of $70,200 in Allred, the typical annual property tax bill is $289, which is well below the national median of $2,690. Property taxes in Allred are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Allred'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 Allred or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Allred, Overton County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$344
$319
Ownwell’s Allred Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Allred with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Allred 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 Allred, Overton County, Tennessee
Property taxes in Allred, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Allred is 0.49%, significantly lower than the U.S. national median of 0.99%. Local government entities within Allred set these rates annually, and they can vary significantly across different neighborhoods. Each year, Allred 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 Allred's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38542 zip code in Overton County has the same median property tax rate of 0.49%. Understanding how these cities compare with Allred 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 Allred 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 Allred, Overton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38542 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Allred, Overton County, Tennessee
In Allred, 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. Assessment notices in Allred 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 Allred helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $289 in zip code 38542, offering a clear picture of what homeowners might expect.
Property Tax Assessment Values Across Allred, Overton County, Tennessee
Source: Ownwell
$62,250
$96,075
$129,900
Average Allred Assessed Value
$70,200
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 Allred, Overton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38542 | $27,440 | $44,300 | $70,200 | $141,650 | $199,880 |
Source: Ownwell
Property Tax Bills Across Allred, Overton County, Tennessee
In Allred, Tennessee, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. For instance, with a median home price of $70,200, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $181, while those in the 75th percentile face a tax bill of approximately $698. At the 90th percentile, the tax bill can reach up to $985. Several factors influence the final tax bill, including the property's location within Overton County, any applicable exemptions, and the local tax rate. The highest median tax bill in the area is $289, found in the 38542 zip code. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting homeowners by contributing to the community's overall quality of life. Compared to the national median property tax rate of 0.99%, Allred's rates provide a relatively affordable option for residents.
Average Allred Tax Bill
$289
Average Overton County Tax Bill
$570
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Allred, Overton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38542 | $92 | $181 | $289 | $698 | $985 |
Source: Ownwell