Westmoreland, Tennessee Property Taxes
The median property tax rate in Westmoreland, TN is 0.56%, 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 of $127,500 in Westmoreland, the typical annual property tax bill amounts to $865, significantly below the national median of $2,690. Property taxes in Westmoreland are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Westmoreland'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 Westmoreland or another part of Sumner County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Westmoreland, 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 Westmoreland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Westmoreland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Westmoreland 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 Westmoreland, Tennessee
Property taxes in Westmoreland, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Westmoreland is 0.56%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Westmoreland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Westmoreland 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. Understanding how Westmoreland's effective property tax rate compares to the national median provides valuable insights into the varying tax landscape across Sumner County, helping homeowners gain a clearer picture of their property tax obligations relative to other areas.
Average Westmoreland Tax Rate
0.56%
Average Sumner County Tax Rate
0.76%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Westmoreland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37186 | 0.56% | 0.56% | 0.56% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Westmoreland, Tennessee
In Westmoreland, 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 Sumner 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 Westmoreland, 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 Westmoreland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $865.00, found in the zip code 37186.
Property Tax Assessment Values Across Westmoreland, Tennessee
Source: Ownwell
$127,500
$210,100
$292,700
Average Westmoreland Assessed Value
$127,500
Average Sumner County Assessed Value
$246,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Westmoreland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37186 | $50,420 | $82,200 | $127,500 | $183,600 | $258,960 |
Source: Ownwell
Property Tax Bills Across Westmoreland, Tennessee
In Westmoreland, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is determined by the local tax assessor and is then multiplied by the tax rate set by Sumner County. For example, with a median home price of $127,500, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is $523, while at the 75th percentile, it rises to $1,263, and at the 90th percentile, it reaches $1,743. These tax bills are influenced by factors such as property size, location, and improvements made to the property. Compared to the national median property tax rate of 0.99%, the tax rates in Westmoreland may seem modest or substantial depending on individual circumstances. Homeowners need to budget for these taxes as they can significantly impact annual expenses, affecting overall financial planning and home affordability.
Average Westmoreland Tax Bill
$865
Average Sumner County Tax Bill
$1,839
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Westmoreland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37186 | $306 | $523 | $865 | $1,263 | $1,743 |
Source: Ownwell