Sparta, Tennessee Property Taxes
The median property tax rate in Sparta, TN is 0.62%, 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 $125,900 in Sparta, the typical annual property tax bill is around $810, significantly below the national median of $2,690. Property taxes in Sparta are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Sparta'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 Sparta 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
Sparta, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$781
$724
Ownwell’s Sparta Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Sparta. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Sparta to provide an accurate estimate of your property tax bill. This helps you understand your potential tax liabilities with ease. For those interested in more granular data, scrolling down reveals trends and insights at the neighborhood level. Keep in mind, your property’s assessed value is determined by the county for tax purposes and may include applicable exemptions.
Property Tax Rates Across Sparta, Tennessee
Property taxes in Sparta, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sparta is 0.62%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Sparta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sparta 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 Sparta's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38583 zip code has the highest median property tax rate of 0.62%, while the 38583 zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Sparta provides valuable insights into the varying tax landscape across White County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sparta Tax Rate
0.62%
Average Putnam County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sparta, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38583 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Sparta, Tennessee
In Sparta, 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 Sparta, 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 Sparta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Sparta is $125,900, with the 25th percentile tax bill at $472 and the 75th percentile tax bill at $1,303. The highest and lowest median tax bills are both $810 in the 38583 zip code.
Average Sparta Assessed Value
$125,900
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 Sparta, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38583 | $33,120 | $77,000 | $125,900 | $209,200 | $277,360 |
Source: Ownwell
Property Tax Bills Across Sparta, Tennessee
In Sparta, TN, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Sparta, the median home price is $125,900, and the property tax rate in Putnam County is reflective of this valuation. The tax bill can vary significantly; for instance, the 25th percentile tax bill is $472, while the 75th percentile tax bill reaches $1,303, and the 90th percentile tax bill is as high as $1,727. These variations show how property values and local tax rates impact the overall tax burden. Compared to the national median property tax rate of 0.99%, Sparta's property tax bills provide a benchmark for homeowners to understand their financial obligations. This can significantly affect budgeting and long-term financial planning for residents.
Average Sparta Tax Bill
$810
Average Putnam County Tax Bill
$1,204
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Sparta, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38583 | $203 | $472 | $810 | $1,303 | $1,727 |
Source: Ownwell