Radcliff, Tennessee Property Taxes
The median property tax rate in Radcliff, TN is 0.49%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Radcliff, the typical annual property tax bill amounts to $56, far below the national median of $2,690. Property taxes in Radcliff are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Radcliff'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 Radcliff 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
Radcliff, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$56
Ownwell’s Radcliff Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Radcliff with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Radcliff 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 Radcliff, Tennessee
Property taxes in Radcliff, Tennessee, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Radcliff is 0.49%, which is lower than the U.S. national median of 0.99%. Local government entities within Radcliff set these rates annually, and they can vary significantly across different neighborhoods. Each year, Radcliff 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 Radcliff's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 40160 zip code has the highest median property tax rate of 0.49%, while the 40160 zip code has the lowest median tax rate of 0.49%. Understanding how these cities compare with Radcliff provides valuable insights into the varying tax landscape across Hamblen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Radcliff Tax Rate
0.49%
Average Hamblen County Tax Rate
0.49%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Radcliff, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40160 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Radcliff, Tennessee
In Radcliff, 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 Hamblen 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 Radcliff, 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. For instance, the zip code with the highest tax bill in Radcliff is 37748, with a tax bill of $56, while the lowest is also $56. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Radcliff Assessed Value
$11,400
Average Hamblen County Assessed Value
$105,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Radcliff, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40160 | $11,400 | $11,400 | $11,400 | $11,400 | $11,400 |
Source: Ownwell
Property Tax Bills Across Radcliff, Tennessee
Property tax bills in Radcliff, located in Hamblen County, TN, are calculated based on the assessed value of a property, which is typically a percentage of the market value. The median home price in this region is $11,400. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, the tax bills at the 25th, 75th, and 90th percentiles are all $56, indicating a relatively consistent tax rate across different property values. Several factors influence the tax bill, including changes in property values, local government budget needs, and voter-approved levies. For homeowners, this means that even minor fluctuations in property values or adjustments in tax rates can significantly impact their annual tax expenses. Compared to the national median property tax rate of 0.99%, Radcliff's property tax rate appears to be quite low, offering homeowners a potentially more affordable living situation in terms of property taxes.
Average Radcliff Tax Bill
$56
Average Hamblen County Tax Bill
$619
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Radcliff, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 40160 | $56 | $56 | $56 | $56 | $56 |
Source: Ownwell