Brentwood, Tennessee Property Taxes
The median property tax rate in Brentwood, TN is 0.72%, slightly lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With the median home value in Brentwood at $481,700, the typical annual property tax bill reaches $3,483, surpassing the national median of $2,690. Property taxes in Brentwood 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 Brentwood'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 Brentwood 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
Brentwood, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$3,468
Ownwell’s Brentwood Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Brentwood. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Brentwood to provide an accurate estimate of your property tax bill. This valuable resource helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in more detailed information, you can explore trends at the neighborhood level by scrolling down. Your property’s assessed value is determined by the county and includes any applicable exemptions, ensuring a precise calculation for your tax obligations.
Property Tax Rates Across Brentwood, Tennessee
Property taxes in Brentwood, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brentwood is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Brentwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brentwood 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 Brentwood's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37027 zip code has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Brentwood provides valuable insights into the varying tax landscape across Wilson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brentwood Tax Rate
0.72%
Average Wilson County Tax Rate
0.50%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brentwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37027 | 0.72% | 0.72% | 0.72% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Brentwood, Tennessee
In Brentwood, 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 Wilson 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 Brentwood, 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. Brentwood has a median home price of $481,700, and the median tax bill across the city is $3,483. Notably, the zip code 37027 has both the highest and lowest median tax bills at $3,483. 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 Brentwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Brentwood Assessed Value
$481,700
Average Wilson County Assessed Value
$285,400
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brentwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37027 | $481,700 | $481,700 | $481,700 | $481,700 | $481,700 |
Source: Ownwell
Property Tax Bills Across Brentwood, Tennessee
In Brentwood, property tax bills are calculated based on the assessed value of a home, which is determined by the Wilson County Assessor's Office. The assessed value is a percentage of the market value of the property. For homeowners in Brentwood, the median home price stands at $481,700. The property tax rate in Brentwood is applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition. Comparatively, the median property tax bill in Brentwood is $3,483, which is higher than the national median property tax rate of 0.99%. This higher tax bill can impact homeowners by increasing their annual housing costs. However, it also contributes to the funding of local services such as schools, public safety, and infrastructure, which can enhance the overall quality of life in the community. Understanding these factors can help homeowners in Brentwood better anticipate their property tax obligations and plan accordingly.
Average Brentwood Tax Bill
$3,483
Average Wilson County Tax Bill
$1,525
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Brentwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37027 | $3,483 | $3,483 | $3,483 | $3,483 | $3,483 |
Source: Ownwell