Oakland, Fayette County, Tennessee Property Taxes
Median Oakland, TN effective property tax rate: 0.43%, significantly lower than the national median of 1.02%, but lower than the Tennessee state median of 0.64%.
Median Oakland, TN home value: $220,200
Median annual Oakland, TN tax bill: $912, $1,488 lower than the national median property tax bill of $2,400.
How are property taxes in Fayette calculated?
Property taxes in Oakland, TN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Oakland’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Oakland, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Oakland, Fayette County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.43%
Estimate Property Tax Bill
$947
$879
Property Tax Rates Across Oakland, Fayette County, Tennessee
Local government entities determine property tax rates, which can differ significantly across regions. This variation arises because each county annually assesses its budgetary needs to provide essential services and divides this total by the assessed value of all taxable properties within its borders, resulting in the property tax rate. Although votes and legislation play a role in setting these rates and budgets, this is the fundamental process.
In Oakland, located in Fayette County, Tennessee, the effective property tax rate stands at 0.43%. This is notably lower than both the state and national medians, with the latter being 1.02%. Such a competitive rate can make Oakland an attractive option for property owners looking to minimize their tax burden. Despite the uniformity of the tax rate within the county, property owners in Oakland benefit from the lower rate, which can contribute to significant savings over time. This advantage, combined with the area's amenities and services, positions Oakland as a desirable location for homeowners.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Oakland Tax Rate
0.43%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Fayette County Tax Rate
0.32%
Median Effective Tennessee Tax Rate
0.64%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Oakland, Fayette County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38060 | 0.32% | 0.32% | 0.43% | 0.43% | 0.43% |
| 38076 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Oakland, Fayette County, Tennessee
When examining property taxes in Oakland, Tennessee, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Fayette County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Fayette County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Oakland.
For example, the median home price in Oakland is $220,200, with tax bills ranging significantly across the county. Zip code 38060 has the highest median home price at $220,200.
Property Tax Assessment Values Across Oakland, Fayette County, Tennessee
Source: Ownwell
$51,800
$247,625
$443,450
Median Oakland Market Value
$220,200
Median Fayette County Market Value
$164,200
Median Tennessee Market Value
$173,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Oakland, Fayette County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38060 | $50,000 | $156,200 | $220,200 | $279,300 | $333,500 |
| 38076 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Oakland, Fayette County, Tennessee
In Oakland, located in Fayette County, TN, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value, which is influenced by factors such as location, property size, and home improvements. The median home price in Oakland is $220,200, with property tax bills ranging from $630 at the 25th percentile to $1,387 at the 90th percentile. Compared to the national median property tax bill of $2,400, Oakland homeowners generally experience lower tax bills. However, these taxes can still be a significant expense for many homeowners.
Ownwell offers a solution by providing property tax appeal and exemption services. By leveraging their expertise, homeowners can potentially lower their tax bills. Ownwell's team analyzes property assessments to identify discrepancies and assists in filing appeals, ensuring that homeowners pay only their fair share. This service can lead to substantial savings, especially in areas where property values are frequently reassessed.
Median Oakland Tax Bill
$912
Median Fayette County Tax Bill
$616
Median Tennessee Tax Bill
$1,206
Median United States Tax Bill
$2,400
Property Tax Bills Across Oakland, Fayette County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38060 | $172 | $630 | $912 | $1,159 | $1,387 |
| 38076 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell