Chapmansboro, Tennessee Property Taxes
The median property tax rate in Chapmansboro, TN is 0.67%, slightly higher than the state median of 0.64% but lower than the national median of 0.99%. With a median home value of $182,000, the typical annual property tax bill in Chapmansboro reaches $1,224, which is below the national median of $2,690. Property taxes in Chapmansboro are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Chapmansboro'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 Chapmansboro or another part of Cheatham County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chapmansboro, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$1,219
Ownwell’s Chapmansboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chapmansboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chapmansboro 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 Chapmansboro, Tennessee
Property taxes in Chapmansboro, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chapmansboro is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Chapmansboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chapmansboro 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 Chapmansboro's effective property tax rate to other areas in Tennessee and the national median. For comparison, the 37035 zip code has the highest median property tax rate of 0.67%, while the 37035 zip code also has the lowest median tax rate of 0.67%. Understanding how these areas compare with Chapmansboro provides valuable insights into the varying tax landscape across Cheatham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chapmansboro Tax Rate
0.67%
Average Cheatham County Tax Rate
0.67%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chapmansboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37035 | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Chapmansboro, Tennessee
In Chapmansboro, 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 Cheatham 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 Chapmansboro, 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 Chapmansboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,224 in zip code 37035, which is also the lowest.
Property Tax Assessment Values Across Chapmansboro, Tennessee
Source: Ownwell
$174,000
$234,175
$294,350
Average Chapmansboro Assessed Value
$182,000
Average Cheatham County Assessed Value
$201,100
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chapmansboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37035 | $76,400 | $133,700 | $182,000 | $254,650 | $352,940 |
Source: Ownwell
Property Tax Bills Across Chapmansboro, Tennessee
In Chapmansboro, Cheatham 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 a median-priced home at $182,000, homeowners can expect a range of tax bills. The 25th percentile tax bill is around $899, while the 75th percentile reaches up to $1,711, and the 90th percentile can be as high as $2,374. These figures are influenced by the local tax rate and the assessed value of the property. Homeowners in the zip code 37035 experience median tax bills of $1,224, which is reflective of the broader county rates. Compared to the national median property tax rate of 0.99%, Chapmansboro's tax rates provide a relatively moderate tax burden for homeowners. Understanding these factors helps homeowners budget for their annual property tax expenses and assess the affordability of their homes.
Average Chapmansboro Tax Bill
$1,224
Average Cheatham County Tax Bill
$1,378
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Chapmansboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37035 | $515 | $899 | $1,224 | $1,711 | $2,374 |
Source: Ownwell