Grandview, Tennessee Property Taxes
The median property tax rate in Grandview, TN is 0.52%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Grandview, the typical annual property tax bill is $578, well below the national median of $2,690. Property taxes in Grandview are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Grandview'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 Grandview or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grandview, 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 Grandview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grandview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grandview 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 Grandview, Tennessee
Property taxes in Grandview, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grandview is 0.52%, which is lower than the U.S. national median of 0.99%. Local government entities within Grandview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grandview 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 Grandview's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37337 zip code has the highest median property tax rate of 0.52%, while the 37337 zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Grandview provides valuable insights into the varying tax landscape across Bledsoe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grandview Tax Rate
0.52%
Average Bledsoe County Tax Rate
0.52%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grandview, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37337 | 0.52% | 0.52% | 0.52% | 0.52% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Grandview, Tennessee
In Grandview, 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 Bledsoe 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. In Grandview, 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 Grandview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Grandview is $578 in the 37337 zip code, which is significantly lower than the national median property tax rate of 0.99%.
Average Grandview Assessed Value
$112,150
Average Bledsoe County Assessed Value
$105,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grandview, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37337 | $71,350 | $80,325 | $112,150 | $204,950 | $316,650 |
Source: Ownwell
Property Tax Bills Across Grandview, Tennessee
In Grandview, located in Bledsoe County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For example, with a median home price of $112,150, homeowners can expect tax bills to vary significantly. The 25th percentile tax bill is around $414, while the 75th percentile tax bill is approximately $1057. At the 90th percentile, tax bills can reach up to $1634. Several factors influence these amounts, including property location, improvements, and local government budget requirements. These property taxes are essential for funding community services such as schools, public safety, and infrastructure. Comparatively, the median property tax rate in Grandview aligns closely with national figures, ensuring that homeowners contribute fairly to maintaining and improving their community. Understanding these elements helps homeowners anticipate and manage their annual property tax obligations effectively.
Average Grandview Tax Bill
$578
Average Bledsoe County Tax Bill
$577
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Grandview, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37337 | $368 | $414 | $578 | $1,057 | $1,634 |
Source: Ownwell