Bluff City, Tennessee Property Taxes
The median property tax rate in Bluff City, TN is 0.60%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Bluff City at $113,800, the typical annual property tax bill amounts to $673, significantly below the national median of $2,690. Property taxes in Bluff City are calculated based on the assessed value, which generally falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Bluff City'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 Bluff City or another part of Sullivan County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bluff City, 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 Bluff City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bluff City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bluff City 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 Bluff City, Tennessee
Property taxes in Bluff City, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bluff City is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Bluff City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bluff City 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 Bluff City's effective property tax rate to other regions and the national median. For comparison, the zip code 37618 has the highest median property tax rate of 0.60%, while the lowest median tax rate is also 0.60% in the same zip code. Understanding how these cities compare with Bluff City provides valuable insights into the varying tax landscape across Sullivan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bluff City Tax Rate
0.60%
Average Sullivan County Tax Rate
0.60%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bluff City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37618 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Bluff City, Tennessee
In Bluff City, 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 Sullivan 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 Bluff City, 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. The median home price in Bluff City is $113,800, with property tax bills ranging from $324 at the 25th percentile to $1,059 at the 75th percentile. The highest median tax bill in the area is $673 in the 37618 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bluff City Assessed Value
$113,800
Average Sullivan County Assessed Value
$117,200
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bluff City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37618 | $17,500 | $57,900 | $113,800 | $173,050 | $253,320 |
Source: Ownwell
Property Tax Bills Across Bluff City, Tennessee
In Bluff City, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For example, with a median home price of $113,800 in Bluff City, homeowners can expect variations in their tax bills. The 25th percentile tax bill is around $324, while the 75th percentile reaches up to $1,059, and the 90th percentile can be as high as $1,852. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. The highest median tax bill in Bluff City is $673, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can be beneficial for homeowners, making Bluff City an attractive place to live. However, it's essential for homeowners to stay informed about potential changes in property assessments and tax rates to manage their expenses effectively.
Average Bluff City Tax Bill
$673
Average Sullivan County Tax Bill
$872
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Bluff City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37618 | $94 | $324 | $673 | $1,059 | $1,852 |
Source: Ownwell