Saint Petersburg, Tennessee Property Taxes
The median property tax rate in Saint Petersburg, TN is 0.63%, slightly below the state median of 0.64% and significantly lower than the national median of 0.99%. With a median home value of $7,500 in Saint Petersburg, the typical annual property tax bill is just $47, far below the national median of $2,690. Property taxes in Saint Petersburg are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Saint Petersburg'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 Saint Petersburg 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
Saint Petersburg, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$47
$44
Ownwell’s SAINT PETERSBURG Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SAINT PETERSBURG with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SAINT PETERSBURG 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 Saint Petersburg, Tennessee
Property taxes in Saint Petersburg, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Petersburg is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Saint Petersburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Petersburg 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 Saint Petersburg's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 33716 has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Saint Petersburg 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 Saint Petersburg 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 Saint Petersburg, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33716 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Saint Petersburg, Tennessee
In Saint Petersburg, 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 Saint Petersburg, 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 example, the median home price in Polk County is $7,500, with tax bills ranging from $45 at the 25th percentile to $74 at the 90th percentile. 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 Saint Petersburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Saint Petersburg, Tennessee
Source: Ownwell
$1,950
$218,625
$435,300
Average Saint Petersburg Assessed Value
$7,500
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 Saint Petersburg, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33716 | $6,940 | $7,150 | $7,500 | $10,200 | $11,820 |
Source: Ownwell
Property Tax Bills Across Saint Petersburg, Tennessee
In Saint Petersburg, Polk County, TN, property tax bills are calculated based on the assessed value of the home. The assessed value is determined by the local tax assessor and is typically a percentage of the market value of the property. Homeowners in this region see a range of tax bills, with the 25th percentile paying around $45, the 75th percentile paying about $64, and the 90th percentile reaching up to $74. These figures indicate that while the property tax rates in Saint Petersburg are relatively low compared to the national median property tax rate of 0.99%, the actual amount paid can vary significantly depending on the assessed value of the property. Factors such as property size, location, and improvements can influence the assessed value, thus affecting the tax bill. For homeowners, understanding these factors is crucial as they directly impact the affordability and financial planning associated with owning property in Saint Petersburg. Lower tax bills can be beneficial, but they also reflect the lower median home prices in the area.
Average Saint Petersburg Tax Bill
$47
Average Polk County Tax Bill
$310
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Petersburg, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 33716 | $44 | $45 | $47 | $64 | $74 |
Source: Ownwell