Ridgetop, Tennessee Property Taxes
The median property tax rate in Ridgetop, TN is 0.80%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With the median home value in Ridgetop at $202,150, the typical annual property tax bill reaches $1,622, falling below the national median of $2,690. Property taxes in Ridgetop are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Ridgetop'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 Ridgetop 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
Ridgetop, 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 Ridgetop Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ridgetop with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ridgetop 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 Ridgetop, Tennessee
Property taxes in Ridgetop, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ridgetop is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Ridgetop set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ridgetop 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 Ridgetop's effective property tax rate to other areas in Tennessee and the national median. For comparison, the 37152 zip code has both the highest and lowest median property tax rate of 0.80%, highlighting the uniformity in tax rates within this region. Understanding how these areas compare with Ridgetop provides valuable insights into the varying tax landscape across Robertson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ridgetop Tax Rate
0.80%
Average Robertson County Tax Rate
0.64%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ridgetop, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37152 | 0.80% | 0.80% | 0.80% | 0.80% | 0.80% |
Source: Ownwell
Property Tax Assessment Values Across Ridgetop, Tennessee
In Ridgetop, 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 Robertson 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 Ridgetop, 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 Ridgetop helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 37152 has the highest and lowest median tax bill at $1,622.
Average Ridgetop Assessed Value
$202,150
Average Robertson County Assessed Value
$178,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ridgetop, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37152 | $173,470 | $184,225 | $202,150 | $220,075 | $230,830 |
Source: Ownwell
Property Tax Bills Across Ridgetop, Tennessee
Property tax bills in Ridgetop, Robertson County, TN, are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Ridgetop stands at $202,150. Property taxes are determined by the local tax rate, which is applied to the assessed value of the home. The national median property tax rate is 0.99%, providing a benchmark for comparison. In Ridgetop, homeowners can expect tax bills to vary. The 25th percentile tax bill is $1,478, while the 75th percentile reaches $1,765. At the 90th percentile, the tax bill climbs to $1,852. These figures show that property taxes in Ridgetop can significantly impact homeowners, depending on their property's assessed value. The highest and lowest median tax bills in the area are both $1,622, found in the 37152 zip code. Understanding these factors helps homeowners anticipate their annual property tax obligations and budget accordingly.
Average Ridgetop Tax Bill
$1,622
Average Robertson County Tax Bill
$1,400
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Ridgetop, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37152 | $1,392 | $1,478 | $1,622 | $1,765 | $1,852 |
Source: Ownwell