Hollow Rock, Henry County, Tennessee Property Taxes
Median Hollow Rock, TN effective property tax rate: 0.47%, significantly lower than the national median of 1.02%, but lower than the Tennessee state median of 0.64%.
Median Hollow Rock, TN home value: $345,300
Median annual Hollow Rock, TN tax bill: $1,634, $766 lower than the national median property tax bill of $2,400.
How are property taxes in Henry County calculated?
Property taxes in Hollow Rock, 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 Hollow Rock’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hollow Rock, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hollow Rock, Henry County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.35%
Estimate Property Tax Bill
$1,654
$1,535
Property Tax Rates Across Hollow Rock, Henry County, Tennessee
Local government entities determine tax rates, which can significantly differ within a state. This variation occurs because each county annually estimates its budgetary needs for public services and divides that by the total value of all taxable property within its borders, resulting in the property tax rate. Although votes and legal frameworks influence these rates and budgets, this is essentially the yearly process.
In Hollow Rock, located in Henry County, the effective property tax rate is notably lower than the national median of 1.02%. This makes Hollow Rock an appealing location for property owners seeking lower tax burdens. Comparatively, the median property tax rate in Tennessee is also below the national average, offering residents and potential homeowners a more favorable tax environment.
When considering property investments or relocations, understanding the differences in tax rates can be crucial. Hollow Rock’s lower tax rate can provide significant savings over time, making it an attractive option for those looking to maximize their investment while enjoying the benefits of local public services.
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 Hollow Rock Tax Rate
0.35%
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 Henry County Tax Rate
0.48%
Median Effective Tennessee Tax Rate
0.54%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hollow Rock, Henry County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38342 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Hollow Rock, Henry County, Tennessee
When examining property taxes in Hollow Rock, TN, 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 Henry County Assessor's Office 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 Henry County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Hollow Rock. For example, the median home price in Hollow Rock is $345,300, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Hollow Rock, Henry County, Tennessee
Source: Ownwell
$71,650
$92,725
$113,800
Median Hollow Rock Market Value
$472,700
Median Henry County Market Value
$90,000
Median Tennessee Market Value
$213,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hollow Rock, Henry County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38342 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Hollow Rock, Henry County, Tennessee
In Hollow Rock, TN, property tax bills are determined by applying the local tax rate to the assessed value of a property. The assessed value is typically a percentage of the market value, and local authorities set the tax rate. With a median home price of $345,300, residents in Henry County experience property tax bills that align with the 25th, 75th, and 90th percentiles at $1,634. This figure is notably lower than the national median property tax bill of $2,400, offering some financial relief to homeowners in the area.
Factors influencing the tax bill include property location, size, and any applicable exemptions. These elements can significantly impact the final amount owed, affecting homeowners' budgets and financial planning. By leveraging assessment reviews and filing appeals, Ownwell helps homeowners potentially lower their property tax bills. Our services focus on identifying discrepancies in assessed values and ensuring that eligible exemptions are applied, ultimately aiming to reduce the financial burden on homeowners while ensuring compliance with local tax regulations.
Median Hollow Rock Tax Bill
$1,669
Median Henry County Tax Bill
$529
Median Tennessee Tax Bill
$1,126
Median United States Tax Bill
$2,400
Property Tax Bills Across Hollow Rock, Henry County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38342 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell