Briceville, Tennessee Property Taxes
The median property tax rate in Briceville, TN is 0.66%, slightly higher than the Tennessee state median of 0.64% but still below the national median of 0.99%. With the median home value in Briceville at $44,500, the typical annual property tax bill is $286, significantly lower than the national median of $2,690. Property taxes in Briceville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Briceville'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 Briceville or another part of Anderson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Briceville, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Briceville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Briceville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Briceville 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 Briceville, Tennessee
Property taxes in Briceville, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Briceville is 0.66%, lower than both the Tennessee state median of 0.71% and the U.S. national median of 0.99%. Local government entities within Briceville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Briceville 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 Briceville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37710 zip code has the highest median property tax rate of 0.66%, while the 37710 zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Briceville provides valuable insights into the varying tax landscape across Anderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Briceville Tax Rate
0.66%
Average Anderson County Tax Rate
0.87%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Briceville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37710 | 0.65% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Briceville, Tennessee
In Briceville, 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 Briceville, 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 Briceville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 37710 has the highest and lowest median tax bill at $286.
Average Briceville Assessed Value
$44,500
Average Anderson County Assessed Value
$128,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Briceville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37710 | $10,300 | $20,650 | $44,500 | $80,150 | $110,600 |
Source: Ownwell
Property Tax Bills Across Briceville, Tennessee
In Briceville, located in Anderson County, TN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Briceville is $44,500. The tax rate is applied to the assessed value, which is a percentage of the market value. Homeowners in Briceville typically see a range of property tax bills. At the 25th percentile, the tax bill is around $133, while at the 75th percentile, it rises to approximately $520. The highest median tax bill recorded is $286 in the 37710 zip code. Several factors influence the property tax bill, including the property's assessed value and the local tax rate set by Anderson County. These taxes fund essential services like schools, infrastructure, and emergency services. For homeowners, understanding how these factors interact is crucial, as it directly impacts their annual financial planning. Compared to the national median property tax rate of 0.99%, Briceville's property tax rates can be considered relatively moderate, providing some relief to local homeowners.
Average Briceville Tax Bill
$286
Average Anderson County Tax Bill
$1,127
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Briceville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37710 | $68 | $133 | $286 | $520 | $747 |
Source: Ownwell