Benton County, Tennessee Property Taxes
The median property tax rate in Benton County is 0.68%, which is lower than the national median of 0.99% but slightly higher than Tennessee's state median of 0.64%. With a median home value of $75,900 in Benton County, the typical annual property tax bill is around $569, significantly below the national median of $2,690. Property taxes in Benton County are calculated based on the tax assessed value, which is often less than the actual market value due to various property tax exemptions such as primary residence and agricultural exemptions. Understanding Benton County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Camden or another part of Benton County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Benton County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$516
$479
Ownwell’s Benton County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Benton County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Benton County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Benton County, Tennessee
Property taxes in Benton County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Benton County is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Benton County set these rates annually, and they can vary significantly between different areas within the county. Each year, Benton County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Benton County's effective property tax rate with other counties in Tennessee and the national median. For comparison, the city of Camden has one of the higher property tax rates in Tennessee at 0.68%, while the city of Westport boasts one of the lowest at 0.68%. Analyzing how Benton County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Benton County Tax Rate
0.68%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Benton County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Big Sandy | 0.68% | 0.68% | 0.68% | 0.68% | 0.93% |
| Bruceton | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
| Buena Vista | N/A | N/A | N/A | N/A | N/A |
| Camden | 0.68% | 0.68% | 0.68% | 0.92% | 0.92% |
| Eva | 0.68% | 0.68% | 0.68% | 0.68% | 0.72% |
| Holladay | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
| Sugar Tree | 0.68% | 0.68% | 0.68% | 0.68% | 0.69% |
| Westport | 0.68% | 0.68% | 0.68% | 0.68% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Benton County, Tennessee
In Benton County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Benton County Appraisal District. The assessed value, however, 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 in Benton County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Benton County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Benton County, the highest median tax bill is found in Buena Vista at $914, while Sugar Tree has the lowest at $208.
Average Benton County Assessed Value
$75,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Benton County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Big Sandy | $20,780 | $37,950 | $71,400 | $121,900 | $196,820 |
| Bruceton | $22,410 | $35,600 | $52,050 | $82,450 | $107,220 |
| Buena Vista | N/A | N/A | N/A | N/A | N/A |
| Camden | $27,600 | $48,500 | $79,500 | $125,600 | $193,620 |
| Eva | $24,600 | $42,600 | $77,700 | $126,700 | $229,500 |
| Holladay | $15,380 | $30,525 | $61,300 | $120,375 | $190,960 |
| Sugar Tree | $11,730 | $16,700 | $30,600 | $74,925 | $130,570 |
| Westport | $24,400 | $85,850 | $126,500 | $195,800 | $220,100 |
Source: Ownwell
Property Tax Bills Across Benton County, Tennessee
In Benton County, Tennessee, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The county’s property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For instance, homeowners in Buena Vista face a higher median tax bill of $914, while those in Sugar Tree benefit from a lower median tax bill of $208. The tax bill can vary significantly, with the 25th percentile at $318 and the 75th percentile at $927, reflecting the diversity in property values and assessments within the county. At the 90th percentile, the tax bill reaches $1,423, indicating the upper range of property taxes in the area. Compared to the national median property tax rate of 0.99%, Benton County offers relatively affordable property taxes, which can significantly impact homeowners' annual expenses and overall financial planning.
Average Benton County Tax Bill
$569
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Benton County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Big Sandy | $147 | $283 | $520 | $868 | $1,387 |
| Bruceton | $151 | $241 | $358 | $569 | $732 |
| Buena Vista | N/A | N/A | N/A | N/A | N/A |
| Camden | $203 | $366 | $618 | $970 | $1,450 |
| Eva | $174 | $296 | $528 | $874 | $1,583 |
| Holladay | $102 | $207 | $421 | $831 | $1,333 |
| Sugar Tree | $80 | $114 | $208 | $511 | $890 |
| Westport | $166 | $586 | $863 | $1,135 | $1,391 |
Source: Ownwell