Camden, Tennessee Property Taxes
The median property tax rate in Camden, TN is 0.68%, slightly higher than the Tennessee state median of 0.64% but lower than the national median of 0.99%. With a median home value of $79,500 in Camden, the typical annual property tax bill amounts to $618, which is significantly below the national median of $2,690. Property taxes in Camden are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Camden's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Camden or another part of Benton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Camden, 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 Camden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Camden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Camden 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 Camden, Tennessee
Property taxes in Camden, Tennessee, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Camden is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Camden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Camden 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 Camden's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38320 has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Camden provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Camden Tax Rate
0.68%
Average Benton County Tax Rate
0.68%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Camden, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38320 | 0.68% | 0.68% | 0.68% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Camden, Tennessee
In Camden, 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 Benton County 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. Assessment notices in Camden 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. The median home price in Camden is $79,500, with tax bills ranging from $366 at the 25th percentile to $1,450 at the 90th percentile. The highest and lowest median tax bills are both $618 in the 38320 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Camden Assessed Value
$79,500
Average Benton County Assessed Value
$75,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Camden, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38320 | $27,600 | $48,500 | $79,500 | $125,600 | $193,620 |
Source: Ownwell
Property Tax Bills Across Camden, Tennessee
In Camden, Benton County, TN, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Homeowners in Camden can expect their property tax bills to vary significantly depending on the assessed value of their homes and the local tax rate. For instance, with the median home price at $79,500, property tax bills can range widely. At the 25th percentile, homeowners might pay around $366, while those at the 75th percentile could see bills up to $970. For the highest 10% of tax bills, amounts can reach as high as $1,450. These variations mean that while some homeowners may find their property tax bills manageable, others might face more substantial financial obligations. Compared to the national median property tax rate of 0.99%, Camden's rates reflect the local economic conditions and property values, impacting how much residents pay annually.
Average Camden Tax Bill
$618
Average Benton County Tax Bill
$569
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Camden, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38320 | $203 | $366 | $618 | $970 | $1,450 |
Source: Ownwell