Lascassas, Wilson County, Tennessee Property Taxes
The median property tax rate in Lascassas, TN is 0.48%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $222,800 in Lascassas, the typical annual property tax bill is $1,090, which is well below the national median of $2,690. Property taxes in Lascassas are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lascassas'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 Lascassas or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lascassas, Wilson County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$1,069
$992
Ownwell’s Lascassas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lascassas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lascassas 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 Lascassas, Wilson County, Tennessee
Property taxes in Lascassas, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lascassas is 0.48%, which is significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Lascassas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lascassas 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 Lascassas's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37085 zip code has the highest median property tax rate of 0.48%, while the 37085 zip code also has the lowest median tax rate of 0.48%. Understanding how these cities compare with Lascassas provides valuable insights into the varying tax landscape across Wilson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lascassas Tax Rate
0.48%
Average Wilson County Tax Rate
0.50%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lascassas, Wilson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37085 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Lascassas, Wilson County, Tennessee
In Lascassas, 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 local 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 Lascassas, 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 Lascassas helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in the area is 37085, with a median tax bill of $1,090.
Property Tax Assessment Values Across Lascassas, Wilson County, Tennessee
Source: Ownwell
$116,700
$227,650
$338,600
Average Lascassas Assessed Value
$222,800
Average Wilson County Assessed Value
$285,400
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lascassas, Wilson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37085 | $84,180 | $117,300 | $222,800 | $342,600 | $462,540 |
Source: Ownwell
Property Tax Bills Across Lascassas, Wilson County, Tennessee
In Lascassas, property tax bills are calculated based on the assessed value of a home, which is determined as a percentage of its market value. The tax rate is applied to this assessed value to determine the annual tax bill. Factors considered in this calculation include the market value of the property, local tax rates, and any applicable exemptions or deductions. For instance, with a median home price of $222,800, homeowners can expect varying tax bills. The 25th percentile tax bill is around $594, while the 75th percentile reaches up to $1,686, and the 90th percentile can go as high as $2,203. These figures highlight the range of property tax obligations in the area, influenced by the property's assessed value and applicable tax rates. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners in Lascassas to understand how their local rates and property values impact their annual tax bills. This understanding helps homeowners budget effectively and take advantage of any potential tax relief options.
Average Lascassas Tax Bill
$1,090
Average Wilson County Tax Bill
$1,525
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Lascassas, Wilson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37085 | $409 | $594 | $1,090 | $1,686 | $2,203 |
Source: Ownwell