Ten Mile, Tennessee Property Taxes
The median property tax rate in Ten Mile, TN is 1.19%, which is significantly higher than both the national median of 0.99% and Tennessee's state median of 0.64%. With a median home value of $150,500 in Ten Mile, the typical annual property tax bill amounts to $1,794, surpassing the national median of $2,690. Property taxes in Ten Mile are calculated based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Ten Mile's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Ten Mile or another part of Anderson County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ten Mile, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Ten Mile Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ten Mile with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ten Mile 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 Ten Mile, Tennessee
Property taxes in Ten Mile, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ten Mile is 1.19%, higher than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Ten Mile set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ten Mile 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 Ten Mile's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37880 zip code has the highest median property tax rate of 1.19%, while the 37880 zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with Ten Mile provides valuable insights into the varying tax landscape across Anderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ten Mile Tax Rate
1.19%
Average Anderson County Tax Rate
0.87%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ten Mile, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37880 | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Ten Mile, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ten Mile, 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 Anderson 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 Ten Mile helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ten Mile, both at $1,794, are found in the 37880 zip code.
Average Ten Mile Assessed Value
$150,500
Average Anderson County Assessed Value
$128,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ten Mile, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37880 | $150,500 | $150,500 | $150,500 | $150,500 | $150,500 |
Source: Ownwell
Property Tax Bills Across Ten Mile, Tennessee
In Ten Mile, Anderson County, TN, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. For homeowners in Ten Mile, the median home price stands at $150,500. The local tax rate is applied to the assessed value to determine the annual tax bill. Factors such as property improvements, location, and market conditions can influence the assessed value, thereby affecting the tax bill. In Ten Mile, the median property tax bill is consistently $1,794, which is significantly higher than the national median property tax rate of 0.99%. This tax burden can impact homeowners by influencing their overall housing costs and affordability. Higher property taxes can affect decisions related to buying, selling, or making improvements to a home. Homeowners must budget for these taxes to maintain financial stability and compliance with local tax regulations.
Average Ten Mile Tax Bill
$1,794
Average Anderson County Tax Bill
$1,127
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Ten Mile, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37880 | $1,794 | $1,794 | $1,794 | $1,794 | $1,794 |
Source: Ownwell