Eads, Shelby County, Tennessee Property Taxes
The median property tax rate in Eads, 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 Eads at $488,750, the typical annual property tax bill reaches $4,041, significantly exceeding the national median of $2,690. Property taxes in Eads are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Eads' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Eads or another part of Shelby County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eads, Shelby County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$4,154
$3,855
Ownwell’s Eads Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eads with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eads 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 Eads, Shelby County, Tennessee
Property taxes in Eads, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eads is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Eads set these rates annually, and they can vary across different neighborhoods. Each year, Eads 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 Eads' effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 38028 has both the highest and lowest median property tax rate of 0.85%, indicating a uniform rate within this area. Understanding how these cities compare with Eads provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eads 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 Eads, Shelby County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38028 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Eads, Shelby County, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Eads, 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 Shelby 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 Eads, 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 Eads helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 38028 has both the highest and lowest median tax bill at $4041. By understanding these nuances, property owners in Eads can make informed decisions and potentially reduce their property tax liabilities.
Property Tax Assessment Values Across Eads, Shelby County, Tennessee
Source: Ownwell
$34,300
$261,525
$488,750
Average Eads Assessed Value
$488,750
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 Eads, Shelby County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38028 | $203,050 | $338,275 | $488,750 | $754,200 | $1,386,600 |
Source: Ownwell
Property Tax Bills Across Eads, Shelby County, Tennessee
Property tax bills in Eads, located in Shelby County, TN, are calculated based on the assessed value of a property, which is a percentage of its market value. The county assessor determines the market value, and then an assessment ratio is applied to derive the assessed value. Once the assessed value is established, the local tax rate, also known as the millage rate, is applied to calculate the tax bill. For homeowners in Eads, the median home price stands at $488,750. Property tax bills can vary widely, with the 25th percentile paying around $2,827 and the 75th percentile facing bills of approximately $6,092. At the 90th percentile, tax bills can reach up to $10,918. These figures illustrate the range of property tax obligations homeowners might encounter, depending on their property's assessed value. The highest and lowest median tax bills in the area are both recorded at $4,041 in the 38028 zip code, indicating some consistency in tax assessments within that specific region.
Average Eads Tax Bill
$4,041
Average Shelby County Tax Bill
$1,907
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Eads, Shelby County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38028 | $1,770 | $2,827 | $4,041 | $6,092 | $10,918 |
Source: Ownwell