Bells, Tennessee Property Taxes
The median property tax rate in Bells, TN is 0.56%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Bells at $126,900, the typical annual property tax bill amounts to $714, well below the national median of $2,690. Property taxes in Bells 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 Bells' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Bells 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
Bells, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$711
Ownwell’s Bells Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bells with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bells 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 Bells, Tennessee
Property taxes in Bells, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bells is 0.56%, notably lower than the U.S. national median of 0.99%. Local government entities within Bells set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bells 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 Bells' effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38006 has both the highest and lowest median property tax rate of 0.56%, identical to Bells. Understanding how these cities compare with Bells provides valuable insights into the varying tax landscape across Crockett County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bells Tax Rate
0.56%
Average Crockett County Tax Rate
0.56%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bells, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38006 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Bells, Tennessee
In Bells, 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 Crockett County Assessor 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 Bells, 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 instance, the median home price in Bells is $126,900, with tax bills ranging from $488 at the 25th percentile to $1,445 at the 90th percentile. The highest median tax bill is $714 in the 38006 zip code, which also has the lowest median tax bill at $714. By understanding 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 Bells helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bells Assessed Value
$126,900
Average Crockett County Assessed Value
$110,100
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bells, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38006 | $50,540 | $87,800 | $126,900 | $178,250 | $250,520 |
Source: Ownwell
Property Tax Bills Across Bells, Tennessee
In Bells, Crockett County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Bells is $126,900, and property tax rates are applied to this assessed value to determine the tax bill. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Bells can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is $488, while the 75th percentile tax bill reaches $1,001, and the 90th percentile tax bill can be as high as $1,445. The highest and lowest median tax bills in the area both stand at $714, indicating some consistency within certain zip codes. These property taxes fund essential public services such as schools, emergency services, and infrastructure. Consequently, the amount homeowners pay directly impacts the quality and availability of these services in their community.
Average Bells Tax Bill
$714
Average Crockett County Tax Bill
$616
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Bells, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38006 | $279 | $488 | $714 | $1,001 | $1,445 |
Source: Ownwell