Copperhill, Tennessee Property Taxes
The median property tax rate in Copperhill, TN is 0.63%, slightly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Copperhill at $40,100, the typical annual property tax bill reaches $252, which is significantly below the national median of $2,690. Property taxes in Copperhill 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 Copperhill'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 Copperhill or another part of Polk County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Copperhill, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$253
Ownwell’s Copperhill Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Copperhill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Copperhill 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 Copperhill, Tennessee
Property taxes in Copperhill, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Copperhill is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Copperhill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Copperhill 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 Copperhill's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37317 zip code has the highest median property tax rate of 0.63%, while the same 37317 zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Copperhill provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Copperhill Tax Rate
0.63%
Average Polk County Tax Rate
0.63%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Copperhill, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37317 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Copperhill, Tennessee
In Copperhill, 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 Polk County Assessor 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 Copperhill, 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 Copperhill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the region are both $252.00, found in zip code 37317.
Average Copperhill Assessed Value
$40,100
Average Polk County Assessed Value
$48,850
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Copperhill, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37317 | $6,440 | $16,700 | $40,100 | $88,900 | $157,520 |
Source: Ownwell
Property Tax Bills Across Copperhill, Tennessee
In Copperhill, located in Polk County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the property's market value. For homeowners in Copperhill, the median home price stands at $40,100. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. In Copperhill, the tax bill can vary significantly, with the 25th percentile paying around $106, while those in the 75th percentile face bills of approximately $566. Homeowners at the 90th percentile may see tax bills as high as $995. These property taxes are crucial for funding local services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Copperhill's rates can be relatively low, making it an attractive location for homeowners seeking affordability.
Average Copperhill Tax Bill
$252
Average Polk County Tax Bill
$310
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Copperhill, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37317 | $41 | $106 | $252 | $566 | $995 |
Source: Ownwell