Tallassee, Tennessee Property Taxes
The median property tax rate in Tallassee, TN is 0.62%, which is significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Tallassee at $72,950, the typical annual property tax bill amounts to $446, well below the national median of $2,690. Property taxes in Tallassee are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tallassee'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 Tallassee or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tallassee, 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 Tallassee Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to easily estimate their annual property taxes in Tallassee using just two key data points. By simply entering your property's estimated assessed value, the calculator applies the median tax rate in Tallassee to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at a neighborhood level, additional localized information is available further down the page. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Tallassee, Tennessee
Property taxes in Tallassee, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tallassee is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Tallassee set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tallassee 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 Tallassee's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37878 zip code has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Tallassee 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 Tallassee 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 Tallassee, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37878 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Tallassee, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Tallassee, 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 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 Tallassee, 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. For instance, the median home price is $72,950, with tax bills ranging from $222 at the 25th percentile to $1,291 at the 90th percentile. The zip code 37878 has the highest and lowest median tax bill, both at $446. 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 Tallassee helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tallassee Assessed Value
$72,950
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 Tallassee, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37878 | $15,820 | $36,100 | $72,950 | $127,625 | $211,300 |
Source: Ownwell
Property Tax Bills Across Tallassee, Tennessee
In Tallassee, Blount County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of the property's market value. For example, with a median home price of $72,950, the assessed value is determined by local tax authorities. The tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence the tax bill, including the assessed value of the property, the local tax rate, and any applicable exemptions. Homeowners in Tallassee might see a range in their tax bills, with the 25th percentile at $222 and the 75th percentile at $778. At the higher end, the 90th percentile tax bill reaches $1,291. These tax bills can significantly impact homeowners, influencing their annual budgeting and financial planning. Compared to the national median property tax rate of 0.99%, Tallassee homeowners may find their tax bills relatively manageable, although individual circumstances will vary based on specific property values and local tax policies.
Average Tallassee Tax Bill
$446
Average Blount County Tax Bill
$1,142
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Tallassee, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37878 | $97 | $222 | $446 | $778 | $1,291 |
Source: Ownwell