Andrews, Tennessee Property Taxes
The median property tax rate in Andrews, TN is 0.63%, lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $227,300 in Andrews, the typical annual property tax bill is $1,427, which is significantly below the national median of $2,690. Property taxes in Andrews are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Andrews'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 Andrews 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
Andrews, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,432
Ownwell’s Andrews Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Andrews with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Andrews 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 Andrews, Tennessee
Property taxes in Andrews, Tennessee, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Andrews is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Andrews set these rates annually, and they can vary significantly across different neighborhoods. Each year, Andrews 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 Andrews' effective property tax rate to other counties in Tennessee and the national median. For comparison, the 28901 zip code has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Andrews provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Andrews Tax Rate
0.63%
Average Polk County Tax Rate
0.63%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Andrews, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28901 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Andrews, Tennessee
In Andrews, 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 Polk 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 Andrews, 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. For instance, the highest median tax bill in the area is $1,427 in the 28901 zip code, which also represents the lowest median 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 Andrews helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Andrews Assessed Value
$227,300
Average Polk County Assessed Value
$48,850
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Andrews, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28901 | $227,300 | $227,300 | $227,300 | $227,300 | $227,300 |
Source: Ownwell
Property Tax Bills Across Andrews, Tennessee
In Andrews, TN, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor, who evaluates the property to establish its market value. The tax rate, set by the local government, is then applied to this assessed value to determine the annual tax bill. Factors such as property improvements, location, and market conditions can influence the assessed value, impacting the final tax amount. Homeowners in Andrews experience a median property tax bill of $1,427, which is based on a median home price of $227,300. This tax bill is consistent across various percentiles, including the 25th, 75th, and 90th percentiles, indicating a uniform tax rate application. Compared to the national median property tax rate of 0.99%, Andrews offers a relatively predictable tax environment for its residents. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Andrews Tax Bill
$1,427
Average Polk County Tax Bill
$310
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Andrews, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 28901 | $1,427 | $1,427 | $1,427 | $1,427 | $1,427 |
Source: Ownwell