Alexandria, Smith County, Tennessee Property Taxes
The median property tax rate in Alexandria, TN is 0.43%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Alexandria, the typical annual property tax bill is $701, considerably less than the national median of $2,690. Property taxes in Alexandria are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Alexandria's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Alexandria 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
Alexandria, Smith County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.43%
Estimate Property Tax Bill
$695
$645
Ownwell’s Alexandria Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alexandria with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alexandria 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 Alexandria, Smith County, Tennessee
Property taxes in Alexandria, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alexandria is 0.43%, significantly lower than the U.S. national median of 0.99%. Local government entities within Alexandria set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alexandria 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 Alexandria's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37012 zip code has the highest median property tax rate of 0.43%, while the same 37012 zip code also has the lowest median tax rate of 0.43%. Understanding how these cities compare with Alexandria provides valuable insights into the varying tax landscape across Smith County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alexandria Tax Rate
0.43%
Average Smith County Tax Rate
0.43%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alexandria, Smith County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37012 | 0.43% | 0.43% | 0.43% | 0.43% | 0.43% |
Source: Ownwell
Property Tax Assessment Values Across Alexandria, Smith County, Tennessee
In Alexandria, 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 Smith 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 Alexandria, 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 Alexandria helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Smith County, the highest and lowest median tax bills are both found in the 37012 zip code, with a median tax bill of $701.
Property Tax Assessment Values Across Alexandria, Smith County, Tennessee
Source: Ownwell
$115,000
$149,650
$184,300
Average Alexandria Assessed Value
$161,700
Average Smith County Assessed Value
$164,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alexandria, Smith County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37012 | $34,080 | $65,500 | $161,700 | $220,900 | $311,960 |
Source: Ownwell
Property Tax Bills Across Alexandria, Smith County, Tennessee
In Alexandria, located in Smith County, TN, property tax bills are calculated based on the assessed value of a home. The county assesses properties at a percentage of their market value, which is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Alexandria, the median home price is $161,700. Factors such as property size, location, and improvements can influence the assessed value, and consequently, the tax bill. Homeowners in this city can expect their property tax bills to vary significantly, with the 25th percentile tax bill around $284 and the 75th percentile reaching up to $957. The 90th percentile tax bill can be as high as $1,352, indicating that higher-valued homes or those with significant improvements will incur higher taxes. Comparatively, the median property tax bill in Alexandria is $701, which is below the national median property tax rate of 0.99%. This relatively lower tax burden can be a financial relief for homeowners, making Alexandria an attractive place for property investment.
Average Alexandria Tax Bill
$701
Average Smith County Tax Bill
$769
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Alexandria, Smith County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37012 | $148 | $284 | $701 | $957 | $1,352 |
Source: Ownwell