Unionville, Tennessee Property Taxes
The median property tax rate in Unionville, TN is 0.58%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Unionville at $178,950, the typical annual property tax bill reaches $1,040, which is significantly less than the national median of $2,690. Property taxes in Unionville are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Unionville'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 Unionville or another part of Bedford County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Unionville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$1,038
Ownwell’s Unionville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Unionville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Unionville 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 Unionville, Tennessee
Property taxes in Unionville, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Unionville is 0.58%, which is significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Unionville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Unionville 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 Unionville's effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 37180 has the highest median property tax rate of 0.58%, while the same zip code also has the lowest median tax rate of 0.58%. Understanding how these areas compare with Unionville provides valuable insights into the varying tax landscape across Bedford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Unionville Tax Rate
0.58%
Average Bedford County Tax Rate
0.58%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Unionville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37180 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Unionville, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Unionville, Tennessee. 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 local 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 Unionville, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Unionville is $1,040, while the lowest is also $1,040, both found in the 37180 zip code.
Average Unionville Assessed Value
$178,950
Average Bedford County Assessed Value
$173,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Unionville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37180 | $87,770 | $133,700 | $178,950 | $238,875 | $342,260 |
Source: Ownwell
Property Tax Bills Across Unionville, Tennessee
In Unionville, Bedford County, TN, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the market value of the property. For instance, if a home is assessed at 25% of its market value, a property with a median home price of $178,950 would have an assessed value of approximately $44,738. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including changes in the market value of the property, local tax rates, and any applicable exemptions. For homeowners, this means that fluctuations in property values or adjustments in tax rates can significantly impact the amount they owe each year. In Unionville, tax bills range from $777 at the 25th percentile to $1,974 at the 90th percentile, with the median tax bill being $1,040. This variability underscores the importance of understanding how property taxes are calculated and staying informed about local tax policies.
Average Unionville Tax Bill
$1,040
Average Bedford County Tax Bill
$1,283
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Unionville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37180 | $510 | $777 | $1,040 | $1,385 | $1,974 |
Source: Ownwell