Crossville, Tennessee Property Taxes
The median property tax rate in Crossville, TN is 0.52%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $69,900 in Crossville, the typical annual property tax bill is around $361, far below the national median of $2,690. Property taxes in Crossville are calculated based on the assessed value, which often falls below market value due to exemptions like those for primary residences and agricultural properties. Gaining a thorough understanding of Crossville'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 Crossville or another part of Bledsoe County, being knowledgeable about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crossville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$363
$337
Ownwell’s Crossville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crossville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crossville 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 Crossville, Tennessee
Property taxes in Crossville, Tennessee, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crossville is 0.52%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Crossville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crossville 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 Crossville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38572 zip code has the highest median property tax rate of 0.52%, while the same zip code also has the lowest median tax rate of 0.52%. Understanding how these cities compare with Crossville provides valuable insights into the varying tax landscape across Bledsoe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crossville Tax Rate
0.52%
Average Bledsoe County Tax Rate
0.52%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crossville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38572 | 0.51% | 0.52% | 0.52% | 0.52% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Crossville, Tennessee
In Crossville, 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 Bledsoe 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 Crossville, 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 Crossville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Crossville is $69,900, with tax bills ranging from $221 at the 25th percentile to $1,196 at the 90th percentile. The zip code with the highest median tax bill is 38572, at $361.
Average Crossville Assessed Value
$69,900
Average Bledsoe County Assessed Value
$105,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crossville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38572 | $29,800 | $44,450 | $69,900 | $129,350 | $231,800 |
Source: Ownwell
Property Tax Bills Across Crossville, Tennessee
In Crossville, located in Bledsoe County, TN, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. For homeowners, the assessed value is typically a fraction of the market value, and this assessed value is then multiplied by the tax rate set by local authorities. The median home price in Crossville is $69,900, leading to varying tax bills across different percentiles. For instance, homeowners at the 25th percentile pay around $221, while those at the 75th percentile face a tax bill of approximately $667. At the 90th percentile, the tax bill can reach up to $1,196. The highest and lowest median tax bills in Crossville are both recorded at $361 in the 38572 zip code. These tax obligations can significantly impact homeowners, influencing their annual budgeting and financial planning. Compared to the national median property tax rate of 0.99%, Crossville's property taxes offer a relatively affordable scenario for its residents.
Average Crossville Tax Bill
$361
Average Bledsoe County Tax Bill
$577
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Crossville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38572 | $154 | $221 | $361 | $667 | $1,196 |
Source: Ownwell