Wilder, Tennessee Property Taxes
The median property tax rate in Wilder, TN is 0.49%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $62,250 in Wilder, the typical annual property tax bill amounts to $268, which is well below the national median of $2,690. Property taxes in Wilder are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Wilder'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 Wilder or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wilder, 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 Wilder Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilder with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilder 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 Wilder, Tennessee
Property taxes in Wilder, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilder is 0.49%, which is notably lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Wilder set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilder 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 Wilder's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38589 has both the highest and lowest median property tax rate of 0.49%. Understanding how these areas compare with Wilder 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 Wilder 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 Wilder, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38589 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Wilder, Tennessee
In Wilder, 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 Wilder, 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 Wilder helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $268, found in zip code 38589.
Average Wilder Assessed Value
$62,250
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 Wilder, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38589 | $15,440 | $28,225 | $62,250 | $90,175 | $144,000 |
Source: Ownwell
Property Tax Bills Across Wilder, Tennessee
In Wilder, Overton County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the county's property assessor. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate. Wilder's property tax rates are relatively low compared to the national median property tax rate of 0.99%. For example, the median home price in Wilder is $62,250. Homeowners in the 25th percentile pay around $121 annually, while those in the 75th percentile pay approximately $430. At the 90th percentile, tax bills can reach up to $709. The highest and lowest median tax bills in the area are both $268, reflecting the uniformity in property tax assessments within the zip code 38589. These property tax bills significantly impact homeowners by influencing their overall cost of homeownership. Lower property taxes can make homeownership more affordable, while higher taxes can add a substantial financial burden. Understanding these factors helps homeowners budget and plan for their financial future.
Average Wilder Tax Bill
$268
Average Overton County Tax Bill
$570
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilder, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38589 | $67 | $121 | $268 | $430 | $709 |
Source: Ownwell