Putnam County, Tennessee Property Taxes
The median property tax rate in Putnam County is 0.62%, 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 Putnam County at $168,050, the typical annual property tax bill is $1,204, well below the national median of $2,690. Property taxes in Putnam County are calculated based on the tax assessed value, which is often less than the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding Putnam County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Cookeville or another part of Putnam County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Putnam County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$1,042
$967
Ownwell’s Putnam County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Putnam County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Putnam County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Putnam County, Tennessee
Property taxes in Putnam County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Putnam County is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Putnam County set these rates annually, and they can vary significantly between different areas within the county. Each year, Putnam County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Putnam County's effective property tax rate with other counties in Tennessee and the national median. For comparison, the city of Cookeville has one of the higher property tax rates in Tennessee at 0.71%, while the city of Buffalo Valley boasts one of the lowest at 0.62%. Analyzing how Putnam County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Putnam County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Putnam County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baxter | 0.62% | 0.62% | 0.62% | 0.62% | 0.89% |
| Bloomington Springs | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
| Buffalo Valley | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
| Cookeville | 0.62% | 0.62% | 0.71% | 0.82% | 0.82% |
| Granville | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
| Monterey | 0.62% | 0.62% | 0.62% | 0.96% | 0.96% |
| Silver Point | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
| Sparta | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Putnam County, Tennessee
In Putnam County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Putnam County Appraisal District. The assessed value, however, 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 Putnam County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Putnam County, the median home price is $168,050. The highest median tax bill is found in Cookeville at $1,267, while Granville has the lowest at $602. Being aware of these valuation processes in Putnam County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Putnam County, Tennessee
Source: Ownwell
$97,450
$142,975
$188,500
Average Putnam County Assessed Value
$168,050
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Putnam County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baxter | $43,700 | $90,200 | $145,850 | $216,750 | $294,870 |
| Bloomington Springs | $31,460 | $68,175 | $118,250 | $177,650 | $294,990 |
| Buffalo Valley | $24,280 | $63,100 | $124,000 | $200,800 | $292,760 |
| Cookeville | $85,400 | $127,200 | $175,500 | $247,900 | $355,470 |
| Granville | $54,350 | $79,375 | $97,450 | $220,100 | $248,020 |
| Monterey | $35,050 | $75,900 | $123,100 | $206,475 | $317,300 |
| Silver Point | $24,940 | $60,350 | $119,800 | $202,850 | $301,740 |
| Sparta | $33,120 | $77,000 | $125,900 | $209,200 | $277,360 |
Source: Ownwell
Property Tax Bills Across Putnam County, Tennessee
In Putnam County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The county's tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence this calculation, including the home's location, size, and condition. For instance, homes in Cookeville have the highest median tax bill at $1,267, while those in Granville have the lowest at $602. The tax bills can vary significantly, with the 25th percentile at $825 and the 75th percentile at $1,735. At the 90th percentile, homeowners might pay up to $2,473. These figures highlight the range of property tax obligations within the county, impacting homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, Putnam County's rates may offer some relief, but the actual amount can still represent a significant annual expense for property owners.
Average Putnam County Tax Bill
$1,204
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Putnam County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Baxter | $284 | $620 | $997 | $1,461 | $1,955 |
| Bloomington Springs | $192 | $426 | $731 | $1,113 | $1,812 |
| Buffalo Valley | $158 | $392 | $769 | $1,250 | $1,815 |
| Cookeville | $612 | $907 | $1,267 | $1,821 | $2,575 |
| Granville | $336 | $490 | $602 | $1,360 | $1,533 |
| Monterey | $253 | $590 | $952 | $1,495 | $2,088 |
| Silver Point | $154 | $372 | $744 | $1,256 | $1,867 |
| Sparta | $203 | $472 | $810 | $1,303 | $1,727 |
Source: Ownwell