Dayton, Rhea County, Tennessee Property Taxes
The median property tax rate in Dayton, TN is 0.56%, which is significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Dayton at $105,800, the typical annual property tax bill comes to $674, well below the national median of $2,690. Property taxes in Dayton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dayton'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 Dayton 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
Dayton, Rhea County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$592
$550
Ownwell’s Dayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dayton 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 Dayton, Rhea County, Tennessee
Property taxes in Dayton, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dayton is 0.56%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Dayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dayton 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 Dayton's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37321 zip code has the highest median property tax rate of 0.56%, while the same 37321 zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Dayton provides valuable insights into the varying tax landscape across Rhea County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dayton Tax Rate
0.56%
Average Rhea County Tax Rate
0.56%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dayton, Rhea County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37321 | 0.56% | 0.56% | 0.56% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Dayton, Rhea County, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Dayton, Tennessee. 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 Rhea 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 Dayton, 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 Dayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Dayton are both $674, found in the 37321 zip code.
Property Tax Assessment Values Across Dayton, Rhea County, Tennessee
Source: Ownwell
$18,350
$69,325
$120,300
Average Dayton Assessed Value
$105,800
Average Rhea County Assessed Value
$105,200
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dayton, Rhea County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37321 | $23,250 | $56,600 | $105,800 | $163,725 | $254,150 |
Source: Ownwell
Property Tax Bills Across Dayton, Rhea County, Tennessee
In Dayton, TN, located in Rhea County, 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. For instance, with a median home price of $105,800, homeowners can expect varying tax bills depending on their specific property assessments and applicable exemptions. Factors such as property location within the zip code 37321, which has a median tax bill of $674, play a significant role. The tax bill can range significantly; at the 25th percentile, homeowners might pay around $342, while those at the 75th percentile could see bills closer to $1008. The highest tax bills, at the 90th percentile, can reach up to $1543. These property taxes fund essential public services such as schools, infrastructure, and emergency services. Consequently, understanding how these factors influence tax bills can help homeowners in Dayton budget more effectively and plan for their financial obligations.
Average Dayton Tax Bill
$674
Average Rhea County Tax Bill
$668
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Dayton, Rhea County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37321 | $136 | $342 | $674 | $1,008 | $1,543 |
Source: Ownwell