Townsend, Tennessee Property Taxes
The median property tax rate in Townsend, TN is 0.62%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Townsend at $162,400, the typical annual property tax bill reaches $1,011, significantly below the national median of $2,690. Property taxes in Townsend 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 Townsend’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 Townsend or another part of Blount County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Townsend, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$1,007
Ownwell’s Townsend Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Townsend with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Townsend 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 Townsend, Tennessee
Property taxes in Townsend, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Townsend is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Townsend set these rates annually, and they can vary significantly across different neighborhoods. Each year, Townsend 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 Townsend's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37882 zip code has the highest median property tax rate of 0.62%, while the same 37882 zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Townsend provides valuable insights into the varying tax landscape across Blount County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Townsend Tax Rate
0.62%
Average Blount County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Townsend, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37882 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Townsend, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Townsend, Tennessee. 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 Blount 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 Townsend, 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 Townsend helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Townsend is 37882, with a median tax bill of $1,011, which is significantly lower than the national median property tax rate of 0.99%.
Average Townsend Assessed Value
$162,400
Average Blount County Assessed Value
$163,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Townsend, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37882 | $54,040 | $93,150 | $162,400 | $260,150 | $388,360 |
Source: Ownwell
Property Tax Bills Across Townsend, Tennessee
In Townsend, located in Blount County, TN, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $162,400, homeowners typically see a wide range of tax bills. The 25th percentile tax bill is around $575, while the 75th percentile reaches approximately $1,607, and the 90th percentile can be as high as $2,405. Several factors influence these tax bills, including changes in property values, local tax rates, and any applicable exemptions or deductions. Homeowners in Townsend should be aware of these variables, as they can significantly impact their annual property tax obligations. Compared to the national median property tax rate of 0.99%, Townsend's property tax rates reflect the unique economic conditions and municipal needs of Blount County, ensuring that local services and infrastructure are adequately funded.
Average Townsend Tax Bill
$1,011
Average Blount County Tax Bill
$1,142
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Townsend, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37882 | $332 | $575 | $1,011 | $1,607 | $2,405 |
Source: Ownwell