Chuckey, Tennessee Property Taxes
The median property tax rate in Chuckey, TN is 0.54%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Chuckey at $63,100, the typical annual property tax bill is $342, well below the national median of $2,690. Property taxes in Chuckey are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chuckey'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 Chuckey or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chuckey, 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 Chuckey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chuckey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chuckey 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 Chuckey, Tennessee
Property taxes in Chuckey, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chuckey is 0.54%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Chuckey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chuckey 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 Chuckey's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37641 zip code has the highest median property tax rate of 0.54%, while the 37641 zip code also has the lowest median tax rate of 0.54%. Understanding how these cities compare with Chuckey provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chuckey Tax Rate
0.54%
Average Washington County Tax Rate
0.54%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chuckey, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37641 | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Chuckey, Tennessee
In Chuckey, 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 Washington 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 Chuckey, 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 Chuckey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Chuckey, the highest median tax bill is $342 in the 37641 zip code, while the lowest median tax bill is also $342 in the same zip code.
Average Chuckey Assessed Value
$63,100
Average Washington County Assessed Value
$131,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chuckey, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37641 | $15,500 | $26,950 | $63,100 | $115,100 | $172,200 |
Source: Ownwell
Property Tax Bills Across Chuckey, Tennessee
In Chuckey, Washington County, TN, property tax bills are determined by assessing the value of a property and applying the local tax rate to that value. The median home price in Chuckey is $63,100. Property taxes are calculated based on this assessed value, and the resulting tax bill can vary significantly. For instance, homeowners at the 25th percentile can expect a tax bill of around $145, while those at the 75th percentile may pay approximately $630. At the 90th percentile, the tax bill can reach up to $940. These variations are influenced by several factors, including property location, size, and improvements. Compared to the national median property tax rate of 0.99%, Chuckey's rates are relatively modest, which can be a financial advantage for homeowners. Understanding these factors and how they impact your tax bill is essential for effective financial planning and property management.
Average Chuckey Tax Bill
$342
Average Washington County Tax Bill
$882
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Chuckey, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37641 | $83 | $145 | $342 | $630 | $940 |
Source: Ownwell