Dunlap, Tennessee Property Taxes
The median property tax rate in Dunlap, TN is 0.84%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With a median home value of $104,600 in Dunlap, the typical annual property tax bill amounts to $942, falling below the national median of $2,690. Property taxes in Dunlap are determined based on the tax assessed value, usually lower than the market value due to exemptions such as those for primary residences and agricultural properties. By gaining a thorough understanding of Dunlap's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're residing in Dunlap or investing in the area, a solid grasp of the local property tax landscape is essential for financial planning and maximizing returns.
Last Updated June 14, 2024
Dunlap, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$879
Ownwell’s Dunlap Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dunlap with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dunlap 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 Dunlap, Tennessee
Property taxes in Dunlap, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dunlap is 0.84%, slightly lower than the U.S. national median of 0.99%. Local government entities within Dunlap set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dunlap 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 Dunlap's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37327 zip code has both the highest and lowest median property tax rate of 0.84%. Understanding how these cities compare with Dunlap provides valuable insights into the varying tax landscape across Sequatchie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dunlap Tax Rate
0.84%
Average Sequatchie County Tax Rate
0.80%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dunlap, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37327 | 0.70% | 0.75% | 0.84% | 1.02% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Dunlap, Tennessee
In Dunlap, 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 Sequatchie County 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 Dunlap, 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 Dunlap helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Dunlap is $104,600, with tax bills ranging from $630 at the 25th percentile to $2,185 at the 90th percentile. The zip code 37327 has the highest and lowest median tax bill of $942.
Average Dunlap Assessed Value
$104,600
Average Sequatchie County Assessed Value
$109,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dunlap, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37327 | $39,000 | $66,900 | $104,600 | $173,700 | $276,400 |
Source: Ownwell
Property Tax Bills Across Dunlap, Tennessee
In Dunlap, located in Sequatchie County, TN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. For instance, with a median home price of $104,600, the property tax bill can vary significantly depending on the assessed value and applicable exemptions. Homeowners in Dunlap can expect their property tax bills to fall within a range, with the 25th percentile at $630 and the 75th percentile at $1,462. At the 90th percentile, tax bills can reach up to $2,185. These figures indicate that while some homeowners may face relatively modest taxes, others could encounter higher bills, influenced by factors such as property improvements or neighborhood developments. Comparatively, the median property tax rate in Dunlap aligns closely with the national median of 0.99%, affecting homeowners by requiring them to budget for these annual expenses. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Dunlap Tax Bill
$942
Average Sequatchie County Tax Bill
$939
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Dunlap, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37327 | $333 | $630 | $942 | $1,462 | $2,185 |
Source: Ownwell