Dukedom, Tennessee Property Taxes
The median property tax rate in Dukedom, TN is 0.49%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Dukedom, the typical annual property tax bill reaches $362, well below the national median of $2,690. Property taxes in Dukedom 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 Dukedom'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 Dukedom or another part of Weakley County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dukedom, 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 Dukedom Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dukedom with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dukedom 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 Dukedom, Tennessee
Property taxes in Dukedom, Tennessee, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Dukedom is 0.49%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Dukedom set these rates annually, and they can vary across different neighborhoods. Each year, Dukedom 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 Dukedom's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38226 has both the highest and the lowest median property tax rate of 0.49%. Understanding how these cities compare with Dukedom provides valuable insights into the varying tax landscape across Weakley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dukedom Tax Rate
0.49%
Average Weakley County Tax Rate
0.49%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dukedom, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38226 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Dukedom, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Dukedom, Tennessee. 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 Weakley 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 Dukedom, 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. For instance, the highest median tax bill in Dukedom is $362, found in the 38226 zip code, while the lowest median tax bill is also $362 in the same zip code. 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 Dukedom helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dukedom Assessed Value
$73,050
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 Dukedom, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38226 | $21,750 | $39,175 | $73,050 | $137,075 | $244,400 |
Source: Ownwell
Property Tax Bills Across Dukedom, Tennessee
In Dukedom, located in Weakley County, TN, property tax bills are calculated based on the assessed value of a property. The assessed value is typically a percentage of the property's market value, which is determined by local tax assessors. Several factors influence this value, including the property's location, size, and condition. For example, the median home price in Dukedom is $73,050. Homeowners in Dukedom can expect their property tax bills to vary widely. The tax bill at the 25th percentile is $199, while at the 75th percentile, it rises to $681. For those at the 90th percentile, the tax bill can reach up to $1,217. Compared to the national median property tax rate of 0.99%, Dukedom's property tax rates offer a range of affordability. These taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life for homeowners. Understanding how these bills are calculated helps residents manage their finances and plan for future expenses.
Average Dukedom Tax Bill
$362
Average Weakley County Tax Bill
$523
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Dukedom, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38226 | $109 | $199 | $362 | $681 | $1,217 |
Source: Ownwell