Harrogate, Tennessee Property Taxes
The median property tax rate in Harrogate, TN is 0.55%, which is significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Harrogate, the typical annual property tax bill amounts to $835, well below the national median of $2,690. Property taxes in Harrogate are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Harrogate's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Harrogate or another part of Hancock County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harrogate, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$828
Ownwell’s Harrogate Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Harrogate with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harrogate to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Harrogate, Tennessee
Property taxes in Harrogate, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harrogate is 0.55%, significantly lower than both the Tennessee state median of 0.68% and the U.S. national median of 0.99%. Local government entities within Harrogate set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harrogate 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 Harrogate's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37752 zip code has the highest median property tax rate of 0.55%, while the 37752 zip code also has the lowest median tax rate of 0.55%. Understanding how these areas compare with Harrogate provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harrogate Tax Rate
0.55%
Average Hancock County Tax Rate
0.55%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harrogate, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37752 | 0.55% | 0.55% | 0.55% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Harrogate, Tennessee
In Harrogate, 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 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 Harrogate, 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 Harrogate 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 $835, found in the zip code 37752.
Average Harrogate Assessed Value
$150,500
Average Hancock County Assessed Value
$96,450
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harrogate, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37752 | $19,580 | $37,200 | $150,500 | $215,200 | $219,260 |
Source: Ownwell
Property Tax Bills Across Harrogate, Tennessee
In Harrogate, located in Hancock County, TN, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors influencing the tax bill include the property's market value, the local assessment ratio, and the tax rate set by local authorities. For example, with a median home price of $150,500, homeowners in Harrogate can expect varying tax bills. The 25th percentile tax bill is $206, while the 75th percentile reaches $1,194, and the 90th percentile is $1,217. Comparatively, the national median property tax rate is 0.99%, highlighting the variability in property tax obligations. These taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting homeowners by contributing to the quality of community amenities and services. Understanding these factors can help homeowners anticipate their financial responsibilities and plan accordingly.
Average Harrogate Tax Bill
$835
Average Hancock County Tax Bill
$528
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Harrogate, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37752 | $109 | $206 | $835 | $1,194 | $1,217 |
Source: Ownwell