Augusta, Tennessee Property Taxes
The median property tax rate in Augusta, Tennessee is 0.63%, slightly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Augusta at $24,500, the typical annual property tax bill amounts to $154, significantly below the national median of $2,690. Property taxes in Augusta are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Augusta'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 Augusta 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
Augusta, 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 Augusta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Augusta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Augusta 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 Augusta, Tennessee
Property taxes in Augusta, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Augusta is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Augusta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Augusta 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 Augusta's effective property tax rate to other areas and the national median. For comparison, the zip code 04330 has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Augusta 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 Augusta 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 Augusta, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04330 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Augusta, Tennessee
In Augusta, 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 local 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 Augusta, 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 Augusta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $24,500, with the highest and lowest median tax bills both being $154, found in zip code 04330.
Average Augusta Assessed Value
$24,500
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 Augusta, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04330 | $24,500 | $24,500 | $24,500 | $24,500 | $24,500 |
Source: Ownwell
Property Tax Bills Across Augusta, Tennessee
In Augusta, TN, within Polk County, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the local tax assessor and typically represents a percentage of the property's market value. Homeowners in Augusta face a median home price of $24,500, which significantly influences their property tax bills. Factors considered in determining the tax bill include the property's assessed value and the local tax rate. The tax rate is applied to the assessed value to calculate the annual tax bill. In Augusta, the property tax bills at the 25th, 75th, and 90th percentiles are all $154, indicating a consistent tax burden across different property values. This consistent tax rate affects homeowners by providing a predictable and manageable expense. Comparatively, the national median property tax rate is 0.99%, highlighting that Augusta's property tax bills are relatively lower. This can be particularly advantageous for homeowners looking to manage their annual financial obligations effectively.
Average Augusta Tax Bill
$154
Average Polk County Tax Bill
$310
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Augusta, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 04330 | $154 | $154 | $154 | $154 | $154 |
Source: Ownwell