Weakley County Property Taxes
The median property tax rate in Weakley County is 0.49%, which is significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $76,000 in Weakley County, the typical annual property tax bill is around $523, much lower than the national median of $2,690. Property taxes in Weakley County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding Weakley County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Martin or another part of Weakley County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Weakley County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$372
$346
Ownwell’s Weakley County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Weakley County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Weakley County to estimate your property tax bill. This insightful tool 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 Weakley County, Tennessee
Property taxes in Weakley County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Weakley County is 0.49%, which is lower than the U.S. national median of 0.99%. Local government entities within Weakley County set these rates annually, and they can vary significantly between different areas within the county. Each year, Weakley 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 Weakley County's effective property tax rate with other counties in Tennessee and the national median. For comparison, the city of Martin has one of the higher property tax rates in Tennessee at 0.93%, while the city of Paris boasts one of the lowest at 0.49%. Analyzing how Weakley County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Weakley County Tax Rate
0.49%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Weakley County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cottage Grove | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
| Dresden | 0.49% | 0.49% | 0.49% | 0.86% | 0.86% |
| Dukedom | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
| Gleason | 0.49% | 0.49% | 0.79% | 0.91% | 0.91% |
| Greenfield | 0.49% | 0.49% | 0.93% | 0.93% | 0.93% |
| Martin | 0.49% | 0.49% | 0.93% | 0.93% | 0.93% |
| Mc Kenzie | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
| Palmersville | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
| Paris | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
| Sharon | 0.49% | 0.49% | 0.49% | 0.99% | 0.99% |
| South Fulton | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
| Union City | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Weakley County, Tennessee
In Weakley 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 Weakley 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 Weakley 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, Union City has the highest median tax bill at $1,006, while McKenzie has the lowest at $336. Being aware of these valuation processes in Weakley 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 Weakley County, Tennessee
Source: Ownwell
$57,900
$130,950
$204,000
Average Weakley County Assessed Value
$76,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Weakley County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cottage Grove | $36,630 | $53,325 | $91,000 | $162,575 | $326,850 |
| Dresden | $26,610 | $44,200 | $70,550 | $111,000 | $172,890 |
| Dukedom | $21,750 | $39,175 | $73,050 | $137,075 | $244,400 |
| Gleason | $27,100 | $42,300 | $65,000 | $106,650 | $174,360 |
| Greenfield | $25,080 | $39,100 | $60,700 | $99,350 | $163,420 |
| Martin | $38,400 | $59,900 | $91,900 | $143,300 | $217,060 |
| Mc Kenzie | $22,970 | $38,850 | $68,450 | $116,850 | $195,720 |
| Palmersville | $23,710 | $43,925 | $74,450 | $117,500 | $210,350 |
| Paris | $18,710 | $39,050 | $73,900 | $148,300 | $202,750 |
| Sharon | $25,000 | $38,300 | $57,900 | $87,500 | $149,280 |
| South Fulton | $35,440 | $62,400 | $97,500 | $176,100 | $253,020 |
| Union City | $192,480 | $196,800 | $204,000 | $292,300 | $345,280 |
Source: Ownwell
Property Tax Bills Across Weakley County, Tennessee
In Weakley County, TN, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The assessed value is typically a percentage of the market value, and this value is then multiplied by the county's tax rate to calculate the annual property tax bill. For instance, with a median home price of $76,000, the tax bill can vary significantly. Homeowners at the 25th percentile pay around $314 annually, while those at the 75th percentile see bills closer to $869. At the 90th percentile, the tax bill can reach up to $1,366. These figures show a range of tax burdens that can impact homeowners differently based on property values. Compared to the national median property tax rate of 0.99%, Weakley County offers relatively affordable property taxes. However, the highest median tax bill in the county is found in Union City at $1,006, while McKenzie has the lowest at $336, highlighting the variability within the region.
Average Weakley County Tax Bill
$523
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Weakley County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cottage Grove | $181 | $263 | $448 | $802 | $1,612 |
| Dresden | $165 | $286 | $470 | $733 | $1,107 |
| Dukedom | $109 | $199 | $362 | $681 | $1,217 |
| Gleason | $168 | $292 | $458 | $707 | $1,137 |
| Greenfield | $165 | $286 | $460 | $704 | $1,086 |
| Martin | $255 | $418 | $687 | $1,145 | $1,665 |
| Mc Kenzie | $112 | $182 | $336 | $576 | $956 |
| Palmersville | $117 | $218 | $367 | $578 | $982 |
| Paris | $92 | $192 | $364 | $749 | $1,088 |
| Sharon | $156 | $253 | $409 | $662 | $963 |
| South Fulton | $175 | $308 | $481 | $868 | $1,248 |
| Union City | $949 | $970 | $1,006 | $1,442 | $1,703 |
Source: Ownwell