Bethpage, Tennessee Property Taxes
The median property tax rate in Bethpage, TN is 0.56%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Bethpage, the typical annual property tax bill reaches $896, well below the national median of $2,690. Property taxes in Bethpage 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 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
0.56%
Estimate Property Tax Bill
$895
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, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bethpage is 0.56%, significantly lower than both the Tennessee state median of 0.71% 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 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Bethpage provides valuable insights into the varying tax landscape across Sumner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bethpage 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 Bethpage, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37022 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
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 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 Bethpage, 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 zip code with the highest and lowest median tax bill is 37022, both at $896.
Average Bethpage Assessed Value
$159,900
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 Bethpage, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37022 | $65,600 | $101,400 | $159,900 | $231,000 | $334,280 |
Source: Ownwell
Property Tax Bills Across Bethpage, Tennessee
In Bethpage, Sumner County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The property tax rate is then applied to this assessed value to determine the final tax bill. Factors such as local government budgets, school funding, and public services influence the property tax rate. For homeowners, this means that changes in property values or local government needs can directly impact their annual tax bill. For instance, with a median home price of $159,900 in Bethpage, homeowners can expect to pay a range of property taxes. The 25th percentile tax bill is around $568, while the 75th percentile tax bill reaches approximately $1301. The highest tax bills, at the 90th percentile, can be as high as $1883. These figures show a significant variance, reflecting differences in property values and individual assessments. Compared to the national median property tax rate of 0.99%, these numbers offer insight into the local tax burden and its potential impact on homeowners' finances.
Average Bethpage Tax Bill
$896
Average Sumner County Tax Bill
$1,839
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 | $359 | $568 | $896 | $1,301 | $1,883 |
Source: Ownwell