Birchwood, Tennessee Property Taxes
The median property tax rate in Birchwood, TN is 0.42%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $116,900 in Birchwood, the typical annual property tax bill is $512, which is well below the national median of $2,690. Property taxes in Birchwood 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 Birchwood'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 Birchwood or another part of Meigs County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Birchwood, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$491
Ownwell’s Birchwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Birchwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Birchwood 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 Birchwood, Tennessee
Property taxes in Birchwood, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Birchwood is 0.42%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Birchwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Birchwood 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 Birchwood's effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 37308 has both the highest and lowest median property tax rate of 0.42%. Understanding how these areas compare with Birchwood provides valuable insights into the varying tax landscape across Meigs County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Birchwood Tax Rate
0.42%
Average Meigs County Tax Rate
0.42%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Birchwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37308 | 0.42% | 0.42% | 0.42% | 0.42% | 0.42% |
Source: Ownwell
Property Tax Assessment Values Across Birchwood, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Birchwood, Tennessee. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Meigs 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 Birchwood, 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. Birchwood's median home price is $116,900, with tax bills ranging from $225 at the 25th percentile to $1,971 at the 90th percentile. The zip code 37308 has the highest and lowest median tax bill of $512. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Birchwood Assessed Value
$116,900
Average Meigs County Assessed Value
$118,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Birchwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37308 | $31,150 | $56,050 | $116,900 | $236,375 | $447,350 |
Source: Ownwell
Property Tax Bills Across Birchwood, Tennessee
In Birchwood, located in Meigs County, TN, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the property's market value, typically set by the county assessor. Several factors influence the tax bill, including property size, location, and improvements made to the property. For homeowners in Birchwood, understanding these factors is crucial as they directly affect the annual tax bill. The median home price in Birchwood is $116,900, and tax bills can vary significantly. For instance, at the 25th percentile, property owners might pay around $225 annually, while those at the 75th percentile could see bills as high as $1,035. At the 90th percentile, tax bills can reach up to $1,971. Comparatively, the median property tax rate in Birchwood is 0.44%, which is significantly lower than the national median of 0.99%. This lower rate can make Birchwood an attractive location for homeowners looking to minimize their property tax burden.
Average Birchwood Tax Bill
$512
Average Meigs County Tax Bill
$522
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Birchwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37308 | $128 | $225 | $512 | $1,035 | $1,971 |
Source: Ownwell