Allardt, Tennessee Property Taxes
The median property tax rate in Allardt, TN 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 Allardt at $139,800, the typical annual property tax bill reaches $861, significantly below the national median of $2,690. Property taxes in Allardt are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Allardt'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 Allardt or another part of Scott County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Allardt, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$867
Ownwell’s Allardt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Allardt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Allardt 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 Allardt, Tennessee
Property taxes in Allardt, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Allardt is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Allardt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Allardt 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 Allardt's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38504 has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Allardt provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Allardt Tax Rate
0.62%
Average Scott County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Allardt, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38504 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Allardt, Tennessee
In Allardt, 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 Scott 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 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. For example, homeowners in Allardt see median annual tax bills ranging from $595 at the 25th percentile to $1,041 at the 75th percentile, with the highest median tax bill recorded at $861 in the 38504 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Allardt Assessed Value
$139,800
Average Scott County Assessed Value
$69,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Allardt, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38504 | $89,770 | $96,625 | $139,800 | $169,075 | $196,960 |
Source: Ownwell
Property Tax Bills Across Allardt, Tennessee
In Allardt, located in Scott County, TN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office and represents a percentage of the property's market value. Homeowners in Allardt can expect a median home price of $139,800, which serves as the basis for calculating property taxes. To determine the tax bill, the assessed value is multiplied by the local tax rate. In Allardt, the tax rate is applied uniformly, ensuring a fair distribution of the tax burden among property owners. The property tax bill can vary significantly, with the 25th percentile at $595 and the 75th percentile at $1041, indicating a range of potential tax liabilities depending on the property's assessed value. This system impacts homeowners by directly correlating their tax obligations with the value of their property. Compared to the national median property tax rate of 0.99%, Allardt's property tax rates offer a relatively moderate financial responsibility for homeowners, balancing public revenue needs with individual affordability.
Average Allardt Tax Bill
$861
Average Scott County Tax Bill
$471
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Allardt, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38504 | $553 | $595 | $861 | $1,041 | $1,213 |
Source: Ownwell