Belvidere, Tennessee Property Taxes
The median property tax rate in Belvidere, TN is 0.61%, which is notably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value in Belvidere of $240,600, the typical annual property tax bill is $1,456, significantly below the national median of $2,690. Property taxes in Belvidere are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Belvidere'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 Belvidere 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
Belvidere, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,468
Ownwell’s Belvidere Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Belvidere with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Belvidere to provide a reliable property tax bill estimate. This insightful tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county for tax purposes, includes any applicable exemptions, ensuring an accurate estimate of your tax obligations.
Property Tax Rates Across Belvidere, Tennessee
Property taxes in Belvidere, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belvidere is 0.61%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Belvidere set these rates annually, and they can vary across different neighborhoods. Each year, Belvidere 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 Belvidere's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37306 has both the highest and lowest median property tax rate of 0.61%. Understanding how these areas compare with Belvidere provides valuable insights into the varying tax landscape across Moore County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belvidere Tax Rate
0.61%
Average Moore County Tax Rate
0.61%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belvidere, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37306 | 0.60% | 0.60% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Belvidere, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Belvidere, 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 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 Belvidere, 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. Belvidere has a median home price of $240,600, with tax bills ranging from $696 at the 25th percentile to $2,833 at the 90th percentile. The highest and lowest median tax bills are both $1,456 in zip code 37306. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Belvidere Assessed Value
$240,600
Average Moore County Assessed Value
$174,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belvidere, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37306 | $82,680 | $115,700 | $240,600 | $360,100 | $455,960 |
Source: Ownwell
Property Tax Bills Across Belvidere, Tennessee
In Belvidere, located in Moore County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $240,600. Property tax rates are applied to this assessed value to determine the annual tax bill. Various factors influence the tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Belvidere can expect tax bills ranging from the 25th percentile at $696 to the 90th percentile at $2,833. The highest median tax bill in the area is $1,456 in the 37306 zip code, which is notably above the national median property tax rate of 0.99%. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding how these taxes are calculated can help homeowners better manage their finances and anticipate annual expenses.
Average Belvidere Tax Bill
$1,456
Average Moore County Tax Bill
$1,024
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Belvidere, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37306 | $502 | $696 | $1,456 | $2,212 | $2,833 |
Source: Ownwell