Decatur, Tennessee Property Taxes
The median property tax rate in Decatur, TN is 0.63%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Decatur at $27,450, the typical annual property tax bill is $116, significantly below the national median of $2,690. Property taxes in Decatur are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Decatur'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 Decatur or another part of Polk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Decatur, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$173
$160
Ownwell’s Decatur Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Decatur with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Decatur 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 Decatur, Tennessee
Property taxes in Decatur, Tennessee, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Decatur is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities in Decatur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Decatur 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. Understanding how Decatur's effective property tax rate compares to other counties in Tennessee and the national median 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 Decatur 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 Decatur, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30033 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| 37322 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Decatur, Tennessee
In Decatur, 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 Decatur, 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 Decatur helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Decatur are both $116, found in the 30033 zip code.
Average Decatur Assessed Value
$27,450
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 Decatur, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30033 | $18,500 | $18,500 | $18,500 | $18,500 | $18,500 |
| 37322 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Decatur, Tennessee
In Decatur, located in Polk County, TN, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and represents a percentage of the property's market value. For homeowners in Decatur, the median home price is $27,450. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. In Decatur, the tax bill remains consistent across various percentiles, with the 25th, 75th, and 90th percentiles all at $116. This uniformity suggests a stable tax environment for homeowners. Compared to the national median property tax rate of 0.99%, Decatur offers a relatively low tax burden. This can be particularly advantageous for homeowners looking to manage their expenses effectively. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan accordingly.
Average Decatur 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 Decatur, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30033 | $116 | $116 | $116 | $116 | $116 |
| 37322 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell