Charleston, Tennessee Property Taxes
The median property tax rate in Charleston, TN is 0.45%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $145,600 in Charleston, the typical annual property tax bill amounts to $659, well below the national median of $2,690. Property taxes in Charleston are calculated based on the tax assessed value, which generally falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Charleston'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 Charleston or another part of Bradley County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Charleston, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$655
$608
Ownwell’s Charleston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Charleston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Charleston 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 Charleston, Tennessee
Property taxes in Charleston, Tennessee, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Charleston is 0.45%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Charleston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charleston 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 Charleston's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37310 zip code has both the highest and lowest median property tax rate at 0.45%. Understanding how these cities compare with Charleston provides valuable insights into the varying tax landscape across Bradley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charleston Tax Rate
0.45%
Average Bradley County Tax Rate
0.45%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charleston, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37310 | 0.44% | 0.45% | 0.45% | 0.45% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Charleston, Tennessee
In Charleston, 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 Bradley County Assessor 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 Charleston, 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 Charleston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Charleston is $145,600, with the highest median tax bill being $659 in the 37310 zip code.
Average Charleston Assessed Value
$145,600
Average Bradley County Assessed Value
$153,100
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charleston, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37310 | $19,100 | $45,650 | $145,600 | $248,500 | $364,100 |
Source: Ownwell
Property Tax Bills Across Charleston, Tennessee
Property tax bills in Charleston, located in Bradley County, TN, are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the tax rate set by local authorities. Factors such as property improvements, location, and market conditions influence the assessed value. Homeowners in Charleston can expect a wide range of property tax bills. The 25th percentile tax bill is around $206, while the 75th percentile reaches up to $1,119. The highest tax bills, in the 90th percentile, can be as much as $1,631. Compared to the national median property tax rate of 0.99%, Charleston's rates are relatively moderate. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community. For homeowners, understanding how these taxes are calculated and their potential impact is crucial for financial planning and property investment decisions.
Average Charleston Tax Bill
$659
Average Bradley County Tax Bill
$797
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Charleston, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37310 | $86 | $206 | $659 | $1,119 | $1,631 |
Source: Ownwell