Stuart, Tennessee Property Taxes
The median property tax rate in Stuart, TN is 0.63%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $33,050 in Stuart, the typical annual property tax bill is $208, significantly below the national median of $2,690. Property taxes in Stuart are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Stuart'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 Stuart 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
Stuart, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$208
$193
Ownwell’s Stuart Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stuart with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stuart 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 Stuart, Tennessee
Property taxes in Stuart, Tennessee, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Stuart is 0.63%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Stuart set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stuart 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 Stuart's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 34994 has the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Stuart 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 Stuart 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 Stuart, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34994 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Stuart, Tennessee
In Stuart, 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 Stuart, 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. The median home price in Stuart is $33,050, with tax bills ranging from $187 at the 25th percentile to $241 at the 90th percentile. The highest and lowest median tax bills are both $208 in zip code 34994. Being aware of these valuation processes in Stuart helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stuart Assessed Value
$33,050
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 Stuart, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34994 | $27,730 | $29,725 | $33,050 | $36,375 | $38,370 |
Source: Ownwell
Property Tax Bills Across Stuart, Tennessee
In Stuart, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the Polk County Assessor's Office. The assessed value is a percentage of the market value of the property. Homeowners in Stuart typically see property tax bills within a range, with the 25th percentile tax bill being $187 and the 75th percentile tax bill reaching $228. The 90th percentile tax bill is $241, indicating that most homeowners in the area fall within this range. Several factors influence the tax bill, including the property's assessed value, the local tax rate set by Polk County, and any applicable exemptions or deductions. The median home price in Stuart is $33,050, which is relatively low compared to national standards, contributing to the lower tax bills. For homeowners, understanding these factors helps in managing annual expenses and planning for future financial obligations. While the property tax rate in Stuart is lower than the national median of 0.99%, it remains a crucial consideration for residents.
Average Stuart Tax Bill
$208
Average Polk County Tax Bill
$310
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Stuart, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34994 | $174 | $187 | $208 | $228 | $241 |
Source: Ownwell