Birchwood, Hamilton County, Tennessee Property Taxes
The median property tax rate in Birchwood, 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 Birchwood, the typical annual property tax bill amounts to $1,054, well below the national median of $2,690. Property taxes in Birchwood are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Birchwood'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 Birchwood or another part of Hamilton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Birchwood, Hamilton County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,121
$1,040
Ownwell’s Birchwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Birchwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Birchwood 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 Birchwood, Hamilton County, Tennessee
Property taxes in Birchwood, Tennessee, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Birchwood is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Birchwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Birchwood 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 Birchwood's effective property tax rate to other areas in Tennessee and the national median. For comparison, the 37308 zip code has both the highest and lowest median property tax rate of 0.56%. Understanding how these cities compare with Birchwood provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Birchwood Tax Rate
0.56%
Average Hamilton County Tax Rate
0.56%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Birchwood, Hamilton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37308 | 0.35% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Birchwood, Hamilton County, Tennessee
In Birchwood, 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 Hamilton 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. 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 Birchwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 37308 in Birchwood has the highest median tax bill at $1,054.
Property Tax Assessment Values Across Birchwood, Hamilton County, Tennessee
Source: Ownwell
$44,900
$299,425
$553,950
Average Birchwood Assessed Value
$200,200
Average Hamilton County Assessed Value
$194,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Birchwood, Hamilton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37308 | $74,660 | $124,950 | $200,200 | $299,850 | $488,740 |
Source: Ownwell
Property Tax Bills Across Birchwood, Hamilton County, Tennessee
In Birchwood, located in Hamilton County, TN, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the Hamilton County Assessor’s Office and is a percentage of the market value of the home. Homeowners in Birchwood can expect a property tax rate that aligns closely with the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's market value, any exemptions for which the homeowner qualifies, and the specific tax rate set by local authorities. For example, with a median home price of $200,200, homeowners in Birchwood might see tax bills ranging from $660 at the 25th percentile to $2,090 at the 90th percentile. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure. Consequently, understanding how property taxes are calculated can help homeowners in Birchwood budget more effectively and potentially seek out exemptions or appeals to reduce their tax burden.
Average Birchwood Tax Bill
$1,054
Average Hamilton County Tax Bill
$1,209
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Birchwood, Hamilton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37308 | $411 | $660 | $1,054 | $1,440 | $2,090 |
Source: Ownwell