Piney Flats, Tennessee Property Taxes
The median property tax rate in Piney Flats, TN is 0.97%, slightly below the national median of 0.99% but significantly higher than the Tennessee state median of 0.64%. With a median home value of $523,400 in Piney Flats, the typical annual property tax bill is $4,884, which far exceeds the national median of $2,690. Property taxes in Piney Flats are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Piney Flats' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Piney Flats or another part of Washington County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Piney Flats, 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 Piney Flats Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Piney Flats with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Piney Flats 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 Piney Flats, Tennessee
Property taxes in Piney Flats, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Piney Flats is 0.61%, significantly lower than both the Tennessee state median of 0.64% and the U.S. national median of 0.99%. Local government entities within Piney Flats set these rates annually, and they can vary significantly across different neighborhoods. Each year, Piney Flats 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 Piney Flats' effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37686 zip code has the highest median property tax rate of 0.61%, while the 37686 zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Piney Flats 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 Piney Flats Tax Rate
0.97%
Average Washington County Tax Rate
0.54%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Piney Flats, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37686 | 0.54% | 0.65% | 0.97% | 0.97% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Piney Flats, Tennessee
In Piney Flats, 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 Piney Flats, 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 Piney Flats helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 37686 has the highest median tax bill at $4,884, which is significantly above the national median property tax rate of 0.99%.
Average Piney Flats Assessed Value
$523,400
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 Piney Flats, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37686 | $50,330 | $72,675 | $523,400 | $695,375 | $885,010 |
Source: Ownwell
Property Tax Bills Across Piney Flats, Tennessee
In Piney Flats, Washington County, TN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the market value of the property. Homeowners in Piney Flats see a range of property tax bills, with the 25th percentile at $746 and the 75th percentile reaching $6,716. The highest median tax bill in the area is $4,884, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and any applicable exemptions. For example, higher-valued properties naturally incur higher tax bills, with the 90th percentile tax bill reaching $8,368. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding how these factors contribute to the overall tax bill helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average Piney Flats Tax Bill
$4,884
Average Washington County Tax Bill
$882
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Piney Flats, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37686 | $336 | $746 | $4,884 | $6,716 | $8,368 |
Source: Ownwell