Rockvale, Tennessee Property Taxes
The median property tax rate in Rockvale, TN is 0.58%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $190,700 in Rockvale, the typical annual property tax bill amounts to $1,109, which is also below the national median of $2,690. Property taxes in Rockvale are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Rockvale'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 Rockvale 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
Rockvale, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$1,106
$1,026
Ownwell’s Rockvale Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Rockvale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rockvale 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 Rockvale, Tennessee
Property taxes in Rockvale, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockvale is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Rockvale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockvale 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 Rockvale's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37153 zip code has the highest median property tax rate of 0.58%, while the 37153 zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Rockvale 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 Rockvale 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 Rockvale, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37153 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Rockvale, Tennessee
In Rockvale, 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 Bedford 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 Rockvale, 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. For instance, the median home price in Rockvale is $190,700, with tax bills ranging from $844 at the 25th percentile to $2,002 at the 90th percentile. The zip code with the highest and lowest median tax bill is 37153, both at $1,109. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rockvale Assessed Value
$190,700
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 Rockvale, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37153 | $89,160 | $145,150 | $190,700 | $277,900 | $344,400 |
Source: Ownwell
Property Tax Bills Across Rockvale, Tennessee
In Rockvale, TN, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value, reflecting current real estate trends. The median home price in Rockvale is $190,700. Homeowners in Rockvale can expect a range of property tax bills, with the 25th percentile at $844 and the 75th percentile at $1,616. At the 90th percentile, tax bills can reach up to $2,002. These property tax bills are influenced by various factors, including property size, location, and any improvements made to the property. The tax rate applied to the assessed value is set by local government authorities and is used to fund essential community services such as schools, public safety, and infrastructure. Homeowners in Rockvale benefit from relatively moderate property tax rates compared to the national median property tax rate of 0.99%, making it an attractive location for residents seeking affordability and quality public services.
Average Rockvale Tax Bill
$1,109
Average Bedford County Tax Bill
$1,283
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockvale, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37153 | $518 | $844 | $1,109 | $1,616 | $2,002 |
Source: Ownwell