Beechgrove, Tennessee Property Taxes
The median property tax rate in Beechgrove, TN is 0.58%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Beechgrove, the typical annual property tax bill reaches $9, significantly below the national median of $2,690. Property taxes in Beechgrove 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 Beechgrove'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 Beechgrove or another part of Coffee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beechgrove, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$9
Ownwell’s Beechgrove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beechgrove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beechgrove 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 Coffee County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Beechgrove, Tennessee
Property taxes in Beechgrove, Tennessee, are essential for funding critical local services like public schools, road maintenance, and emergency services. The median tax rate in Beechgrove is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Beechgrove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beechgrove 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. For comparison, the zip code 37018 has the highest median property tax rate of 0.58%, while the same zip code also has the lowest median tax rate of 0.58%. Understanding how these areas compare with Beechgrove provides valuable insights into the varying tax landscape across Coffee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beechgrove Tax Rate
0.58%
Average Coffee County Tax Rate
0.59%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beechgrove, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37018 | 0.57% | 0.57% | 0.58% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Beechgrove, Tennessee
In Beechgrove, 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 Coffee 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 Beechgrove, 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. For example, in Beechgrove, the tax bill for properties at the 25th percentile is around $8, while properties at the 75th percentile see tax bills around $26. 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 Beechgrove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Beechgrove Assessed Value
$1,600
Average Coffee County Assessed Value
$105,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beechgrove, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37018 | $1,200 | $1,400 | $1,600 | $4,800 | $51,080 |
Source: Ownwell
Property Tax Bills Across Beechgrove, Tennessee
In Beechgrove, located in Coffee County, TN, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of your property. Once the assessed value is established, the local tax rate is applied to calculate your tax bill. Several factors influence your property tax bill, including the market value of your home, local tax rates, and any applicable exemptions or abatements. For example, homes in the 25th percentile have an annual tax bill of around $8, while those in the 75th percentile see bills near $26. High-value properties, such as those in the 90th percentile, can expect tax bills around $287 annually. Homeowners in Beechgrove benefit from relatively low property taxes compared to the national median property tax rate of 0.99%. This can make homeownership more affordable and appealing, but it's important for homeowners to stay informed about potential changes in property values and tax rates that could affect their future tax bills.
Average Beechgrove Tax Bill
$9
Average Coffee County Tax Bill
$805
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Beechgrove, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37018 | $7 | $8 | $9 | $26 | $287 |
Source: Ownwell