Dover, Tennessee Property Taxes
The median property tax rate in Dover, TN is 0.59%, which is significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Dover, the typical annual property tax bill amounts to $682, well below the national median of $2,690. Property taxes in Dover 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 Dover'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 Dover or another part of Stewart County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dover, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Dover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dover 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 Dover, Tennessee
Property taxes in Dover, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dover is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Dover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dover 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 Dover's effective property tax rate to other areas in Stewart County and the national median. For comparison, the 37058 zip code has both the highest and lowest median property tax rate of 0.59%. Understanding how these areas compare with Dover provides valuable insights into the varying tax landscape across Stewart County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dover Tax Rate
0.59%
Average Stewart County Tax Rate
0.59%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dover, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37058 | 0.59% | 0.59% | 0.59% | 0.60% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Dover, Tennessee
In Dover, 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 Stewart 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 Dover, 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 median home price in Dover is $106,200, with tax bills ranging from $384 at the 25th percentile to $1,686 at the 90th percentile. The highest and lowest median tax bills are both $682 in the 37058 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Awareness of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dover Assessed Value
$106,200
Average Stewart County Assessed Value
$102,200
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dover, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37058 | $26,200 | $60,900 | $106,200 | $169,400 | $256,220 |
Source: Ownwell
Property Tax Bills Across Dover, Tennessee
In Dover, Stewart County, TN, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Dover, the median home price is $106,200, and the property tax rate is influenced by various factors, including local government budgets and public service funding needs. Homeowners can expect their tax bills to vary significantly. For example, the tax bill at the 25th percentile is $384, while at the 75th percentile, it rises to $1,110. At the 90th percentile, homeowners might see a tax bill as high as $1,686. The highest and lowest median tax bills in Dover are both $682, indicating some consistency in tax assessments within the zip code 37058. Compared to the national median property tax rate of 0.99%, Dover's tax rates reflect the local economic conditions and public service requirements, directly impacting homeowners' annual expenses.
Average Dover Tax Bill
$682
Average Stewart County Tax Bill
$644
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Dover, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37058 | $160 | $384 | $682 | $1,110 | $1,686 |
Source: Ownwell