Crossville, Tennessee Property Taxes
The median property tax rate in Crossville, TN is 0.28%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $187,250 in Crossville, the typical annual property tax bill is $531, which is well below the national median of $2,690. Property taxes in Crossville are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Crossville'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 Crossville or another part of Cumberland County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crossville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$524
$487
Ownwell’s Crossville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crossville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crossville 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 Crossville, Tennessee
Property taxes in Crossville, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crossville is 0.28%, significantly lower than the U.S. national median of 0.99%. Local government entities within Crossville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crossville 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. Understanding how these cities compare with Crossville provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crossville Tax Rate
0.28%
Average Cumberland County Tax Rate
0.28%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crossville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38555 | 0.28% | 0.28% | 0.28% | 0.28% | 0.28% |
| 38558 | 0.28% | 0.28% | 0.28% | 0.28% | 0.28% |
| 38571 | 0.28% | 0.28% | 0.28% | 0.28% | 0.28% |
| 38572 | 0.28% | 0.28% | 0.28% | 0.28% | 0.28% |
Source: Ownwell
Property Tax Assessment Values Across Crossville, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Crossville, Tennessee. 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 Crossville, 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. The median home price in Crossville is $187,250, with tax bills ranging from $304 at the 25th percentile to $1,154 at the 90th percentile. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The highest median tax bill is $837 in the 38558 zip code, while the lowest is $423 in the 38571 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 Crossville Assessed Value
$187,250
Average Cumberland County Assessed Value
$180,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crossville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38555 | $72,330 | $119,575 | $175,900 | $262,925 | $395,400 |
| 38558 | $143,740 | $203,750 | $295,100 | $388,300 | $517,230 |
| 38571 | $29,200 | $61,500 | $148,800 | $239,600 | $317,360 |
| 38572 | $23,300 | $55,600 | $155,700 | $224,600 | $322,680 |
Source: Ownwell
Property Tax Bills Across Crossville, Tennessee
In Crossville, Cumberland County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Factors influencing the tax bill include the home's market value, the assessment ratio set by the county, and the local tax rate. Homeowners in Crossville see a range of property tax bills. For instance, the 25th percentile tax bill is around $304, while the 75th percentile reaches $815, and the 90th percentile climbs to $1,154. The highest median tax bill in the area is $837 in the 38558 zip code, whereas the lowest median tax bill is $423 in the 38571 zip code. Compared to the national median property tax rate of 0.99%, Crossville homeowners benefit from relatively lower property taxes, making the area more affordable for property owners.
Average Crossville Tax Bill
$531
Average Cumberland County Tax Bill
$512
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Crossville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38555 | $205 | $339 | $498 | $746 | $1,122 |
| 38558 | $407 | $577 | $837 | $1,101 | $1,469 |
| 38571 | $83 | $175 | $423 | $680 | $900 |
| 38572 | $66 | $160 | $442 | $638 | $917 |
Source: Ownwell