Villa Rica, Tennessee Property Taxes
The median property tax rate in Villa Rica, Tennessee is 0.63%, which is notably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Villa Rica at $16,400, the typical annual property tax bill is approximately $103, significantly below the national median of $2,690. Property taxes in Villa Rica are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Villa Rica'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 Villa Rica or another part of Polk County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Villa Rica, 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 Villa Rica Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Villa Rica with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Villa Rica 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 Villa Rica, Tennessee
Property taxes in Villa Rica, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Villa Rica is 0.63%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Villa Rica set these rates annually, and they can vary significantly across different neighborhoods. Each year, Villa Rica 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 Villa Rica's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 30180 zip code has the highest median property tax rate of 0.63%, while the 30180 zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Villa Rica 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 Villa Rica 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 Villa Rica, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30180 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Villa Rica, Tennessee
In Villa Rica, 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. Assessment notices in Villa Rica 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 Villa Rica helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 30180 in Villa Rica has both the highest and lowest median tax bill, which is $103.
Average Villa Rica Assessed Value
$16,400
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 Villa Rica, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30180 | $13,840 | $14,800 | $16,400 | $16,700 | $16,880 |
Source: Ownwell
Property Tax Bills Across Villa Rica, Tennessee
In Villa Rica, Polk County, TN, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $16,400, homeowners in Villa Rica can expect their property tax bills to vary. The 25th percentile tax bill is approximately $93, while the 75th percentile tax bill is about $105. At the 90th percentile, the tax bill reaches around $106. Several factors influence these tax bills, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. These property taxes significantly impact homeowners by contributing to the overall cost of owning a home. Compared to the national median property tax rate of 0.99%, Villa Rica’s property tax rates offer a relatively affordable option for homeowners, making it an attractive location for potential buyers.
Average Villa Rica Tax Bill
$103
Average Polk County Tax Bill
$310
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Villa Rica, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30180 | $87 | $93 | $103 | $105 | $106 |
Source: Ownwell