Stanton, Tennessee Property Taxes
The median property tax rate in Stanton, TN is 0.51%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Stanton at $97,300, the typical annual property tax bill reaches $495, significantly below the national median of $2,690. Property taxes in Stanton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Stanton'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 Stanton 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
Stanton, 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 Stanton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stanton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stanton 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 Stanton, Tennessee
Property taxes in Stanton, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stanton is 0.51%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Stanton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stanton 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 Stanton's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38069 zip code has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Stanton 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 Stanton Tax Rate
0.51%
Average Tipton County Tax Rate
0.51%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stanton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38069 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Stanton, Tennessee
In Stanton, 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 local 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 Stanton, 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 Stanton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Stanton's median home price is $97,300, with the highest and lowest median tax bills both recorded at $495 in the 38069 zip code.
Average Stanton Assessed Value
$97,300
Average Tipton County Assessed Value
$143,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stanton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38069 | $16,300 | $61,400 | $97,300 | $157,400 | $243,600 |
Source: Ownwell
Property Tax Bills Across Stanton, Tennessee
In Stanton, property tax bills are calculated by applying the local tax rate to the assessed value of a home. The assessed value is typically a percentage of the market value, which can fluctuate based on market conditions and property characteristics. For instance, with a median home price of $97,300, homeowners can expect varying tax bills depending on their property's assessed value and the local tax rate. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Stanton, tax bills range widely, with the 25th percentile at $312 and the 75th percentile at $802, highlighting the variation based on individual property assessments. The highest median tax bill in the area is recorded at $495, which is significantly lower than the national median property tax rate of 0.99%. Understanding how these taxes are calculated helps homeowners budget accordingly and potentially seek exemptions or appeals if they believe their property has been over-assessed. This ensures that property taxes remain fair and manageable for all residents.
Average Stanton Tax Bill
$495
Average Tipton County Tax Bill
$880
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Stanton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38069 | $82 | $312 | $495 | $802 | $1,241 |
Source: Ownwell