Cleveland, Tennessee Property Taxes
The median property tax rate in Cleveland, TN is 0.45%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Cleveland at $156,200, the typical annual property tax bill reaches $830, significantly below the national median of $2,690. Property taxes in Cleveland are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cleveland'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 Cleveland 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
Cleveland, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$703
Ownwell’s Cleveland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cleveland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cleveland 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 Bradley County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Cleveland, Tennessee
Property taxes in Cleveland, Tennessee, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Cleveland is 0.45%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Cleveland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cleveland 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 Cleveland's effective property tax rate to other areas in Bradley County and the national median. For comparison, the 37312 zip code has the highest median property tax rate of 0.79%, while the 37323 zip code has the lowest median tax rate of 0.44%. Understanding how these cities compare with Cleveland 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 Cleveland 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 Cleveland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37311 | 0.44% | 0.45% | 0.79% | 0.79% | 0.79% |
| 37312 | 0.44% | 0.44% | 0.79% | 0.79% | 0.79% |
| 37323 | 0.44% | 0.44% | 0.44% | 0.45% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Cleveland, Tennessee
In Cleveland, 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 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. 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. For example, Cleveland's highest median tax bill is $1,312 in the 37312 zip code, while the lowest is $632 in the 37323 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cleveland Assessed Value
$156,200
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 Cleveland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37311 | $13,700 | $48,300 | $113,650 | $181,575 | $272,100 |
| 37312 | $45,310 | $150,800 | $202,100 | $283,800 | $384,190 |
| 37323 | $19,040 | $65,350 | $137,500 | $201,400 | $275,500 |
Source: Ownwell
Property Tax Bills Across Cleveland, Tennessee
In Cleveland, Bradley County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the county's property assessor. The assessed value is a percentage of the market value of the property. Homeowners in Cleveland can expect their tax bills to vary significantly depending on the value of their property. For example, the median home price in Cleveland is $156,200. Property tax bills in the city range from the 25th percentile at $428 to the 75th percentile at $1,380, with the 90th percentile reaching up to $2,052. The highest median tax bill in the area is $1,312 in the 37312 zip code, while the lowest is $632 in the 37323 zip code. Compared to the national median property tax rate of 0.99%, Cleveland's tax rates can be favorable for homeowners. These variations in tax bills can significantly affect homeowners' annual expenses, influencing their overall cost of living and financial planning.
Average Cleveland Tax Bill
$830
Average Bradley County Tax Bill
$797
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Cleveland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37311 | $85 | $295 | $736 | $1,178 | $1,864 |
| 37312 | $263 | $768 | $1,312 | $1,900 | $2,614 |
| 37323 | $85 | $294 | $632 | $959 | $1,315 |
Source: Ownwell