Obion, Obion County, Tennessee Property Taxes
Median Obion, 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 Obion, TN home value: $61,600. Median annual Obion, TN tax bill: $264, $2,136 lower than the national median property tax bill of $2,400.
How are property taxes in Obion calculated?
Property taxes in Obion, 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 Obion’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Obion, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Obion, Obion County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.47%
Estimate Property Tax Bill
$290
$269
Property Tax Rates Across Obion, Obion County, Tennessee
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is the annual process in a nutshell.
Below, you can compare Obion’s effective property tax rate to other cities in Tennessee and the median property tax rates in Tennessee and the U.S. Obion's property tax rate stands at 0.47%, which is significantly lower than the national median property tax rate of 1.02%. This makes Obion an attractive location for property owners looking for lower tax burdens. The consistency of the tax rate across the county, with both the highest and lowest rates being the same, suggests a stable tax environment. This stability, combined with the relatively low tax rate, positions Obion as a competitive option for property investment when compared to other regions in the state and nationwide.
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 Obion Tax Rate
0.47%
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 Obion County Tax Rate
0.47%
Median Effective Tennessee Tax Rate
0.64%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Obion, Obion County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38240 | 0.13% | 0.47% | 0.47% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Obion, Obion County, Tennessee
When examining property taxes in Obion, 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 Obion 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 Obion 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 Obion. For example, the median home price in Obion is $61,600, with tax bills ranging significantly across the county. Zip code 38240 has the highest median home price at $61,600.
Property Tax Assessment Values Across Obion, Obion County, Tennessee
Source: Ownwell
$58,500
$63,900
$69,300
Median Obion Market Value
$61,600
Median Obion County Market Value
$69,900
Median Tennessee Market Value
$173,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Obion, Obion County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38240 | $23,420 | $38,400 | $61,600 | $99,400 | $158,580 |
Source: Ownwell
Property Tax Bills Across Obion, Obion County, Tennessee
In Obion, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Obion experience a median property tax bill of $264, which is significantly lower than the national median of $2,400. The tax bill can vary, with the 25th percentile at $150 and the 90th percentile reaching $748, reflecting differences in home values and tax rates within the area.
Factors such as the property's location, size, and improvements can influence its assessed value, thereby affecting the tax bill. For homeowners looking to reduce their property tax burden, Ownwell offers expert services to appeal assessments and identify potential exemptions. By leveraging local expertise and a deep understanding of property tax regulations, Ownwell can help homeowners in Obion save on their property tax bills, ensuring they only pay their fair share.
Median Obion Tax Bill
$264
Median Obion County Tax Bill
$285
Median Tennessee Tax Bill
$1,206
Median United States Tax Bill
$2,400
Property Tax Bills Across Obion, Obion County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38240 | $35 | $150 | $264 | $444 | $748 |
Source: Ownwell