Cross Plains, Tennessee Property Taxes
The median property tax rate in Cross Plains, TN is 0.56%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Cross Plains at $175,650, the typical annual property tax bill is $988, which is well below the national median of $2,690. Property taxes in Cross Plains are calculated based on the tax assessed value, often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Cross Plains' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cross Plains 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
Cross Plains, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$984
Ownwell’s CROSS PLAINS Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in CROSS PLAINS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CROSS PLAINS to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in local trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, considering any exemptions that may apply.
Property Tax Rates Across Cross Plains, Tennessee
Property taxes in Cross Plains, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cross Plains is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Cross Plains set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cross Plains 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 Cross Plains' effective property tax rate to other areas in Tennessee and the national median. For comparison, the 37049 zip code has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these areas compare with Cross Plains provides valuable insights into the varying tax landscape across Sumner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cross Plains Tax Rate
0.56%
Average Sumner County Tax Rate
0.76%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cross Plains, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37049 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Cross Plains, Tennessee
In CROSS PLAINS, 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 Sumner 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 CROSS PLAINS, 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. For instance, the median home price in CROSS PLAINS is $175,650, with tax bills ranging from $831 at the 25th percentile to $1,219 at the 90th percentile. Being aware of these valuation processes in CROSS PLAINS helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Cross Plains, Tennessee
Source: Ownwell
$127,500
$210,100
$292,700
Average Cross Plains Assessed Value
$175,650
Average Sumner County Assessed Value
$246,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cross Plains, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37049 | $131,200 | $147,650 | $175,650 | $209,350 | $216,550 |
Source: Ownwell
Property Tax Bills Across Cross Plains, Tennessee
In Cross Plains, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence this calculation, including the property's location, size, and condition. Homeowners in Cross Plains can expect property tax bills that vary widely; for instance, the 25th percentile tax bill is around $831, while the 75th percentile reaches $1,178, and the 90th percentile hits $1,219. Comparatively, the median property tax bill in the area is $988, which is slightly higher than the national median property tax rate of 0.99%. This means homeowners in Cross Plains might pay more in property taxes than the average American homeowner. Understanding these factors helps homeowners anticipate their financial obligations and better manage their budgets.
Average Cross Plains Tax Bill
$988
Average Sumner County Tax Bill
$1,839
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Cross Plains, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37049 | $738 | $831 | $988 | $1,178 | $1,219 |
Source: Ownwell