Apison, Tennessee Property Taxes
The median property tax rate in Apison, TN is 0.63%, slightly below the Tennessee state median of 0.64% and well under the national median of 0.99%. With a median home value of $18,400 in Apison, the typical annual property tax bill amounts to $116, significantly lower than the national median of $2,690. Property taxes in Apison are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Apison'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 Apison or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Apison, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$116
Ownwell’s Apison Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Apison with just two data points. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Apison to project your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available further down the page. Your property’s assessed value, determined by the county, is used for property tax calculations and accounts for any applicable exemptions.
Property Tax Rates Across Apison, Tennessee
Property taxes in Apison, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Apison is 0.63%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Apison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Apison 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 Apison's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37302 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Apison 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 Apison 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 Apison, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37302 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Apison, Tennessee
In Apison, 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 Apison, 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 Apison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Apison, the highest and lowest median tax bills are both $116 in the 37302 zip code.
Average Apison Assessed Value
$18,400
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 Apison, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37302 | $18,400 | $18,400 | $18,400 | $18,400 | $18,400 |
Source: Ownwell
Property Tax Bills Across Apison, Tennessee
In Apison, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate, known as the mill rate, is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can affect the assessed value. For homeowners in Apison, the median tax bill is notably lower than the national median property tax rate of 0.99%, with a consistent median tax bill of $116 across various percentiles. This relatively low tax burden can make homeownership more affordable, contributing to the overall appeal of living in this area. However, the uniformity in tax bills suggests a standardized approach to property assessment and taxation in Apison, which may not account for significant variations in property values. This system ensures predictability in tax obligations but may not fully reflect individual property differences.
Average Apison Tax Bill
$116
Average Polk County Tax Bill
$310
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Apison, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37302 | $116 | $116 | $116 | $116 | $116 |
Source: Ownwell