Gleason, Tennessee Property Taxes
The median property tax rate in Gleason, TN is 0.79%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With a median home value of $65,000 in Gleason, the typical annual property tax bill is around $458, significantly less than the national median of $2,690. Property taxes in Gleason are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Gleason's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gleason 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
Gleason, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$514
Ownwell’s Gleason Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gleason with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gleason 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 Gleason, Tennessee
Property taxes in Gleason, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gleason is 0.79%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Gleason set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gleason 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 Gleason's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38229 zip code has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Gleason 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 Gleason Tax Rate
0.79%
Average Weakley County Tax Rate
0.49%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gleason, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38229 | 0.49% | 0.49% | 0.79% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Gleason, Tennessee
In Gleason, 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 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 Gleason, 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 Gleason helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 38229 in Gleason has both the highest and lowest median tax bill, each at $458.
Average Gleason Assessed Value
$65,000
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 Gleason, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38229 | $27,100 | $42,300 | $65,000 | $106,650 | $174,360 |
Source: Ownwell
Property Tax Bills Across Gleason, Tennessee
In Gleason, located in Weakley County, TN, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value. For homeowners in Gleason, the median home price stands at $65,000. Once the assessed value is determined, the local tax rate is applied to calculate the tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. In Gleason, the property tax bills range significantly, with the 25th percentile at $292 and the 75th percentile at $707. For those at the 90th percentile, the tax bill can reach up to $1,137. Notably, the highest and lowest median tax bills in the area are both $458, reflecting a relatively uniform tax burden across the region. These property taxes fund essential public services, impacting homeowners by contributing to local infrastructure, schools, and emergency services. Understanding how these taxes are calculated helps homeowners better manage their financial planning and anticipate annual expenses.
Average Gleason Tax Bill
$458
Average Weakley County Tax Bill
$523
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Gleason, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38229 | $168 | $292 | $458 | $707 | $1,137 |
Source: Ownwell