Rockford, Tennessee Property Taxes
The median property tax rate in Rockford, TN, is 0.62%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $125,950 in Rockford, the typical annual property tax bill comes to $789, significantly below the national median of $2,690. Property taxes in Rockford are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Rockford'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 Rockford or another part of Blount County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rockford, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$781
Ownwell’s Rockford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rockford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rockford 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 Rockford, Tennessee
Property taxes in Rockford, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockford is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Rockford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockford 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 Rockford's effective property tax rate to other areas in Blount County and the national median. For comparison, the zip code 37853 has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these areas compare with Rockford provides valuable insights into the varying tax landscape across Blount County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rockford Tax Rate
0.62%
Average Blount County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rockford, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37853 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Rockford, Tennessee
In Rockford, 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 Blount 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 Rockford, 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. The median home price in Rockford is $125,950, with tax bills ranging from $421 at the 25th percentile to $1,690 at the 90th percentile. The highest and lowest median tax bills are both $789, found in the 37853 zip code. 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 Rockford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rockford Assessed Value
$125,950
Average Blount County Assessed Value
$163,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rockford, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37853 | $27,170 | $67,775 | $125,950 | $188,525 | $269,500 |
Source: Ownwell
Property Tax Bills Across Rockford, Tennessee
In Rockford, located in Blount County, TN, property tax bills are primarily calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the market value of the property and then apply an assessment ratio to it. For homeowners in Rockford, the median home price is $125,950. Property tax rates are applied to this assessed value to determine the annual tax bill. The property tax bill can vary significantly within the city. For example, the tax bill at the 25th percentile is $421, while at the 75th percentile, it rises to $1171. At the 90th percentile, homeowners could see a tax bill as high as $1690. The highest and lowest median tax bills in Rockford both stand at $789, indicating a relatively narrow range in median values. Compared to the national median property tax rate of 0.99%, Rockford's tax rates can be considered moderate, offering some relief to homeowners in terms of lower tax burdens. Understanding these factors helps homeowners anticipate their annual property tax expenses accurately.
Average Rockford Tax Bill
$789
Average Blount County Tax Bill
$1,142
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockford, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37853 | $169 | $421 | $789 | $1,171 | $1,690 |
Source: Ownwell