Cookeville, Putnam County, Tennessee Property Taxes
The median property tax rate in Cookeville, TN is 0.71%, slightly higher than the Tennessee state median of 0.64% but still below the national median of 0.99%. With a median home value of $175,500 in Cookeville, the typical annual property tax bill amounts to $1,267, which is significantly lower than the national median of $2,690. Property taxes in Cookeville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Cookeville'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 Cookeville 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
Cookeville, Putnam County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$1,246
$1,156
Ownwell’s Cookeville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cookeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cookeville 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 Cookeville, Putnam County, Tennessee
Property taxes in Cookeville, Tennessee, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Cookeville is 0.71%, which is lower than the U.S. national median of 0.99%. Local government entities within Cookeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cookeville 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 Cookeville's effective property tax rate to other areas in Putnam County and the national median. For comparison, the 38501 zip code has the highest median property tax rate of 0.82%, while the 38506 zip code has the lowest median tax rate of 0.62%. Understanding how these areas compare with Cookeville provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cookeville Tax Rate
0.71%
Average Putnam County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cookeville, Putnam County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38501 | 0.62% | 0.62% | 0.82% | 0.82% | 0.82% |
| 38506 | 0.62% | 0.62% | 0.62% | 0.71% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Cookeville, Putnam County, Tennessee
In Cookeville, 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 Putnam County Property Assessor 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 Cookeville, 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 Cookeville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Cookeville is $1,298 in the 38506 zip code, while the lowest is $1,244 in the 38501 zip code.
Property Tax Assessment Values Across Cookeville, Putnam County, Tennessee
Source: Ownwell
$97,450
$142,975
$188,500
Average Cookeville Assessed Value
$175,500
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 Cookeville, Putnam County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38501 | $84,000 | $122,275 | $164,800 | $231,725 | $335,700 |
| 38506 | $88,730 | $135,200 | $188,500 | $267,100 | $373,270 |
Source: Ownwell
Property Tax Bills Across Cookeville, Putnam County, Tennessee
In Cookeville, Putnam County, TN, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Cookeville is $175,500. Property tax assessments are influenced by various factors, including property size, location, and any improvements made. The tax rate is applied to the assessed value to determine the annual tax bill. For homeowners in Cookeville, property tax bills can vary significantly. The 25th percentile tax bill is around $907, while the 75th percentile reaches $1,821. At the higher end, the 90th percentile tax bill is approximately $2,575. Within Cookeville, the highest median tax bill in ZIP code 38506 is $1,298, whereas the lowest median tax bill in ZIP code 38501 is $1,244. Comparatively, the national median property tax rate is 0.99%, making Cookeville's property tax rates relatively moderate. These tax bills directly impact homeowners' annual expenses, influencing decisions on property purchases and budgeting.
Average Cookeville Tax Bill
$1,267
Average Putnam County Tax Bill
$1,204
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Cookeville, Putnam County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38501 | $623 | $905 | $1,244 | $1,798 | $2,617 |
| 38506 | $597 | $908 | $1,298 | $1,847 | $2,543 |
Source: Ownwell