Rugby, Tennessee Property Taxes
The median property tax rate in Rugby, 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 Rugby, the typical annual property tax bill amounts to $139, significantly below the national median of $2,690. Property taxes in Rugby 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 Rugby'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 Rugby 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
Rugby, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$140
Ownwell’s Rugby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rugby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rugby 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 Rugby, Tennessee
Property taxes in Rugby, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rugby is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Rugby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rugby 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 Rugby's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37733 zip code has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Rugby 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 Rugby 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 Rugby, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37733 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Rugby, Tennessee
In Rugby, 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. In Rugby, 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. Rugby's median home price is $22,500, and the median tax bill across various percentiles is consistently $139. The zip code with both the highest and lowest median tax bills is 37733, reflecting the uniformity in tax assessments within the area. By understanding 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 Rugby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rugby Assessed Value
$22,500
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 Rugby, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37733 | $22,500 | $22,500 | $22,500 | $22,500 | $22,500 |
Source: Ownwell
Property Tax Bills Across Rugby, Tennessee
In Rugby, located in Scott County, TN, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The local property tax rate is then applied to this assessed value to calculate the tax bill. For homeowners in Rugby, the median home price stands at $22,500, with a typical tax bill around $139. Factors influencing the tax bill include property location, size, and improvements, as well as local government budget needs. Compared to the national median property tax rate of 0.99%, Rugby’s tax rate results in relatively lower tax bills, making it an attractive option for those seeking affordable homeownership. For instance, the tax bills at the 25th, 75th, and 90th percentiles are consistently $139, indicating a stable and predictable tax environment. This consistency provides homeowners with a clear expectation of their annual financial obligations, contributing to a more manageable and predictable cost of living.
Average Rugby Tax Bill
$139
Average Scott County Tax Bill
$471
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Rugby, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37733 | $139 | $139 | $139 | $139 | $139 |
Source: Ownwell