Bethpage, Tennessee Property Taxes
The median property tax rate in Bethpage, TN is 0.49%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $218,400 in Bethpage, the typical annual property tax bill is $1,086, well below the national median of $2,690. Property taxes in Bethpage 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 Bethpage'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 Bethpage 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
Bethpage, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$1,070
Ownwell’s Bethpage Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bethpage with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bethpage 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 Bethpage, Tennessee
Property taxes in Bethpage, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bethpage is 0.49%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Bethpage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bethpage 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 Bethpage's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37022 zip code has the highest median property tax rate of 0.49%, while the same zip code also has the lowest median tax rate of 0.49%. Understanding how these cities compare with Bethpage provides valuable insights into the varying tax landscape across Trousdale County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bethpage Tax Rate
0.49%
Average Trousdale County Tax Rate
0.49%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bethpage, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37022 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Bethpage, Tennessee
In Bethpage, 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 Trousdale 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. 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 Bethpage helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $218,400, with tax bills ranging from $680 at the 25th percentile to $2,105 at the 90th percentile. The zip code 37022 has the highest and lowest median tax bill of $1,086.
Average Bethpage Assessed Value
$218,400
Average Trousdale County Assessed Value
$186,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bethpage, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37022 | $85,680 | $134,200 | $218,400 | $321,800 | $433,060 |
Source: Ownwell
Property Tax Bills Across Bethpage, Tennessee
In Bethpage, property tax bills are calculated based on the assessed value of your property and the local tax rate set by Trousdale County. The assessed value is a percentage of the market value of your home, which in Bethpage has a median home price of $218,400. Once the assessed value is determined, it is multiplied by the local tax rate to calculate your tax bill. Several factors influence your property tax bill, including changes in the market value of your home, county tax rates, and any applicable exemptions. For instance, in Bethpage, the tax bill for the 25th percentile is $680, while the tax bill for the 75th percentile is $1,567. The 90th percentile tax bill can go up to $2,105. These property taxes significantly impact homeowners by affecting monthly mortgage payments and overall housing affordability. Compared to the national median property tax rate of 0.99%, Bethpage residents experience varying tax burdens depending on their property values and applicable exemptions.
Average Bethpage Tax Bill
$1,086
Average Trousdale County Tax Bill
$1,010
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Bethpage, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37022 | $420 | $680 | $1,086 | $1,567 | $2,105 |
Source: Ownwell