Union City, Tennessee Property Taxes
The median property tax rate in Union City, 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 Union City at $204,000, the typical annual property tax bill reaches $1,006, significantly below the national median of $2,690. Property taxes in Union City 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 Union City'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 Union City 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
Union City, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$1,000
Ownwell’s Union City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Union City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Union City 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 Union City, Tennessee
Property taxes in Union City, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Union City is 0.49%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Union City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Union City 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 Union City's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38261 zip code has both the highest and lowest median property tax rate of 0.49%. Understanding how these cities compare with Union City 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 Union City 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 Union City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38261 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Union City, Tennessee
In Union City, 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 Union City, 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 Union City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 38261 has the highest and lowest median tax bill at $1006.
Average Union City Assessed Value
$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 Union City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38261 | $192,480 | $196,800 | $204,000 | $292,300 | $345,280 |
Source: Ownwell
Property Tax Bills Across Union City, Tennessee
In Union City, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value, and this figure is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Union City face a median property tax bill of $1,006, aligning with the rate in Weakley County. This is significantly lower than the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the home's market value, any applicable exemptions, and the specific tax rates set by local government entities. For instance, the tax bill can range from $970 at the 25th percentile to $1,442 at the 75th percentile, and up to $1,703 at the 90th percentile. These taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in Union City.
Average Union City Tax Bill
$1,006
Average Weakley County Tax Bill
$523
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Union City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38261 | $949 | $970 | $1,006 | $1,442 | $1,703 |
Source: Ownwell