Van Buren County, Tennessee Property Taxes
The median property tax rate in Van Buren County is 0.60%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Van Buren County at $96,900, the typical annual property tax bill is around $590, significantly below the national median of $2,690. Property taxes in Van Buren County are calculated based on the assessed value, which is often lower than the actual market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding the specific property tax system in Van Buren County, exploring available exemptions, and identifying opportunities for property tax reductions can lead to substantial annual savings. Whether you reside in Spencer or another part of Van Buren County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Van Buren County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$581
$540
Ownwell’s Van Buren County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Van Buren County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Van Buren County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Van Buren County, Tennessee
Property taxes in Van Buren County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Van Buren County is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Van Buren County set these rates annually, and they can vary significantly between different areas within the county. Each year, Van Buren County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Van Buren County's effective property tax rate with other regions and the national median. For comparison, the city of McMinnville has one of the higher property tax rates in the area at 0.60%, while the city of Bone Cave also has one of the lowest at 0.60%. Analyzing how Van Buren County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Van Buren County Tax Rate
0.60%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Van Buren County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bone Cave | N/A | N/A | N/A | N/A | N/A |
| Doyle | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
| Dunlap | N/A | N/A | N/A | N/A | N/A |
| Mcminnville | 0.60% | 0.60% | 0.60% | 0.60% | 2.37% |
| Mc Minnville | N/A | N/A | N/A | N/A | N/A |
| Pikeville | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
| Rock Island | 0.60% | 0.60% | 0.60% | 0.60% | 0.61% |
| Sparta | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
| Spencer | 0.60% | 0.60% | 0.60% | 0.60% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Van Buren County, Tennessee
In Van Buren County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Van Buren County Appraisal District. The assessed value, however, 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. Assessment notices in Van Buren County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Bone Cave has the highest median tax bill at $3,679, while Spencer has the lowest at $527. Being aware of these valuation processes in Van Buren County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Van Buren County, Tennessee
Source: Ownwell
$60,500
$111,675
$162,850
Average Van Buren County Assessed Value
$96,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Van Buren County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bone Cave | N/A | N/A | N/A | N/A | N/A |
| Doyle | $47,790 | $81,625 | $132,100 | $237,025 | $389,050 |
| Dunlap | N/A | N/A | N/A | N/A | N/A |
| Mcminnville | $40,500 | $40,500 | $60,500 | $127,800 | $214,180 |
| Mc Minnville | N/A | N/A | N/A | N/A | N/A |
| Pikeville | $37,730 | $60,975 | $97,050 | $153,775 | $210,250 |
| Rock Island | $42,280 | $72,300 | $127,850 | $256,775 | $411,980 |
| Sparta | $70,370 | $116,125 | $162,850 | $251,950 | $362,250 |
| Spencer | $24,870 | $49,650 | $86,800 | $152,000 | $256,910 |
Source: Ownwell
Property Tax Bills Across Van Buren County, Tennessee
In Van Buren County, TN, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value of the property, which is determined by local assessors. Homeowners in Van Buren County can expect a range of tax bills depending on their property's assessed value and specific location within the county. For instance, the median home price in the county is $96,900. The 25th percentile tax bill is $349, while the 75th percentile reaches $1,055, and the 90th percentile can go up to $1,799. This variation highlights how property values and local tax rates impact the overall tax bill. Comparatively, Van Buren County's property tax rates can be considered moderate, especially when contrasted with the national median property tax rate of 0.99%. Homeowners in cities like Bone Cave face the highest median tax bill of $3,679, while those in Spencer enjoy the lowest at $527. Understanding these factors helps homeowners anticipate their tax liabilities and plan their finances accordingly.
Average Van Buren County Tax Bill
$590
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Van Buren County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bone Cave | N/A | N/A | N/A | N/A | N/A |
| Doyle | $287 | $494 | $795 | $1,393 | $2,261 |
| Dunlap | N/A | N/A | N/A | N/A | N/A |
| Mcminnville | $243 | $284 | $555 | $1,184 | $1,740 |
| Mc Minnville | N/A | N/A | N/A | N/A | N/A |
| Pikeville | $221 | $366 | $588 | $923 | $1,324 |
| Rock Island | $254 | $434 | $776 | $1,574 | $2,473 |
| Sparta | $462 | $701 | $968 | $1,522 | $2,176 |
| Spencer | $145 | $300 | $527 | $919 | $1,549 |
Source: Ownwell