Buena Vista, Tennessee Property Taxes
The median property tax rate in Buena Vista, TN is 0.68%, slightly higher than the Tennessee state median of 0.64% but lower than the national median of 0.99%. With a median home value of $81,350 in Buena Vista, the typical annual property tax bill amounts to $557, which is significantly below the national median of $2,690. Property taxes in Buena Vista are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Buena Vista'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 Buena Vista or another part of Carroll County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buena Vista, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$553
$513
Ownwell’s Buena Vista Property Tax Bill Calculator offers homeowners, real estate investors, and prospective buyers a simple way to estimate their annual property taxes in Buena Vista. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Buena Vista to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by Carroll County for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Buena Vista, Tennessee
Property taxes in Buena Vista, Tennessee, play a crucial role in supporting essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Buena Vista is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Buena Vista set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buena Vista 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 Buena Vista's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38318 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Buena Vista provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buena Vista Tax Rate
0.68%
Average Carroll County Tax Rate
0.66%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buena Vista, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38318 | 0.68% | 0.68% | 0.68% | 0.68% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Buena Vista, Tennessee
In Buena Vista, 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 Carroll 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 Buena Vista, 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. Buena Vista boasts a median home price of $81,350, with tax bills ranging significantly. The highest median tax bill in the area is $557 in the 38318 zip code, while the lowest median tax bill is also $557 in the same 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 Buena Vista Assessed Value
$81,350
Average Carroll County Assessed Value
$76,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buena Vista, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38318 | $21,300 | $40,975 | $81,350 | $140,700 | $214,640 |
Source: Ownwell
Property Tax Bills Across Buena Vista, Tennessee
In Buena Vista, property tax bills are calculated based on the assessed value of your property, which is determined by the Carroll County Assessor's office. The assessed value is a percentage of the market value of your home, and this figure is then multiplied by the local tax rate to determine your annual tax bill. For instance, with a median home price of $81,350, homeowners in Buena Vista can expect varying tax bills. At the 25th percentile, the tax bill is approximately $281, while at the 75th percentile, it rises to around $970. The tax bill at the 90th percentile can reach up to $1,469. The highest and lowest median tax bills in the area are both $557, indicating a consistent tax rate within the zip code 38318. Compared to the national median property tax rate of 0.99%, Buena Vista's rates can significantly impact homeowners' finances, making it crucial to understand how these taxes are calculated and managed.
Average Buena Vista Tax Bill
$557
Average Carroll County Tax Bill
$574
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Buena Vista, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38318 | $146 | $281 | $557 | $970 | $1,469 |
Source: Ownwell