Atoka, Shelby County, Tennessee Property Taxes
The median property tax rate in Atoka, TN is 0.85%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With the median home value in Atoka at $259,350, the typical annual property tax bill amounts to $2,189, falling below the national median of $2,690. Property taxes in Atoka are calculated based on the tax assessed value, which usually comes in lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Atoka'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 Atoka 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
Atoka, Shelby County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$2,204
$2,046
Ownwell’s Atoka Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Atoka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Atoka 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 Atoka, Shelby County, Tennessee
Property taxes in Atoka, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Atoka is 0.66%, lower than both the Tennessee state median of 0.68% and the U.S. national median of 0.99%. Local government entities within Atoka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Atoka 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 Atoka's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38004 zip code has the highest median property tax rate of 0.66%, while the 38004 zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Atoka provides valuable insights into the varying tax landscape across Tipton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Atoka Tax Rate
0.85%
Average Shelby County Tax Rate
1.52%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Atoka, Shelby County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38004 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Atoka, Shelby County, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Atoka, 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 Tipton 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 Atoka, 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 instance, the highest median tax bill in the area is $2,189 in the 38004 zip code, which also has the lowest median 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 Atoka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Atoka, Shelby County, Tennessee
Source: Ownwell
$34,300
$261,525
$488,750
Average Atoka Assessed Value
$259,350
Average Shelby County Assessed Value
$147,100
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Atoka, Shelby County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38004 | $177,690 | $207,050 | $259,350 | $319,925 | $444,270 |
Source: Ownwell
Property Tax Bills Across Atoka, Shelby County, Tennessee
Property tax bills in Atoka, located in Tipton County, TN, are determined based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. In Atoka, the median home price is $259,350. Property tax rates in this region are influenced by local government budgets and public service needs. For homeowners in Atoka, property taxes can vary significantly. The tax bill at the 25th percentile is approximately $1,776, while at the 75th percentile, it rises to around $2,613. At the 90th percentile, homeowners might see tax bills as high as $3,214. These figures indicate a range of tax liabilities, reflecting differences in property values and specific local tax rates. Compared to the national median property tax rate of 0.99%, Atoka's property tax bills align closely with national trends, making it crucial for homeowners to understand how their specific property assessments and local tax rates impact their annual tax obligations.
Average Atoka Tax Bill
$2,189
Average Shelby County Tax Bill
$1,907
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Atoka, Shelby County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38004 | $1,499 | $1,776 | $2,189 | $2,613 | $3,214 |
Source: Ownwell