Bradyville, Tennessee Property Taxes
The median property tax rate in Bradyville, TN is 0.61%, 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 $126,900 in Bradyville, the typical annual property tax bill is $780, significantly below the national median of $2,690. Property taxes in Bradyville are calculated based on the assessed value, which often falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Bradyville'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 Bradyville or another part of Cannon County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bradyville, 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 Bradyville Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to easily estimate their annual property taxes in Bradyville with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bradyville to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Cannon County for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Bradyville, Tennessee
Property taxes in Bradyville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bradyville is 0.61%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Bradyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bradyville 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 Bradyville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37026 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Bradyville provides valuable insights into the varying tax landscape across Cannon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bradyville Tax Rate
0.61%
Average Cannon County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bradyville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37026 | 0.61% | 0.61% | 0.61% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Bradyville, Tennessee
In Bradyville, 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 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 Bradyville, 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 Bradyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 37026, with a median bill of $780.
Average Bradyville Assessed Value
$126,900
Average Cannon County Assessed Value
$129,400
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bradyville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37026 | $54,690 | $81,300 | $126,900 | $189,425 | $273,490 |
Source: Ownwell
Property Tax Bills Across Bradyville, Tennessee
In Bradyville, located in Cannon County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $126,900, homeowners can expect their tax bills to vary. The 25th percentile tax bill is approximately $502, while the 75th percentile tax bill reaches around $1,165. For those at the 90th percentile, the tax bill can be as high as $1,670. Several factors influence the tax bill, including changes in property values, adjustments in the local tax rate, and any applicable exemptions or abatements. This system ensures that property taxes are proportionate to the value of the property, impacting homeowners differently based on their property's assessed value. In comparison to the national median property tax rate of 0.99%, Bradyville's property tax system provides a structured approach to funding local services while reflecting the local real estate market.
Average Bradyville Tax Bill
$780
Average Cannon County Tax Bill
$846
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Bradyville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37026 | $338 | $502 | $780 | $1,165 | $1,670 |
Source: Ownwell