Wildwood, Tennessee Property Taxes
The median property tax rate in Wildwood, TN is 0.56%, which is significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Wildwood at $284,900, the typical annual property tax bill amounts to $1,594, well below the national median of $2,690. Property taxes in Wildwood are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Wildwood'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 Wildwood 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
Wildwood, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,595
$1,481
Ownwell’s Wildwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wildwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wildwood 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 Wildwood, Tennessee
Property taxes in Wildwood, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wildwood is 0.56%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Wildwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wildwood 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 Wildwood's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 30757 zip code has both the highest and lowest median property tax rate of 0.56%. Understanding how these cities compare with Wildwood 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 Wildwood 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 Wildwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30757 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Wildwood, Tennessee
In Wildwood, 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 Assessor of Property 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 in Wildwood 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 Wildwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Wildwood, the highest median tax bill is $1,594 in the 30757 zip code, while the lowest median tax bill is also $1,594 in the same zip code.
Average Wildwood Assessed Value
$284,900
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 Wildwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30757 | $119,540 | $181,550 | $284,900 | $333,550 | $362,740 |
Source: Ownwell
Property Tax Bills Across Wildwood, Tennessee
In Wildwood, located in Hamilton 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 Wildwood is $284,900. The local property tax rate is applied to the assessed value to determine the annual tax bill. This rate is influenced by various factors including local government budgets, public school funding, and infrastructure needs. Homeowners in Wildwood can expect a range of tax bills. For instance, the 25th percentile tax bill is $1,015, while the 75th percentile tax bill is $1,866. Those at the 90th percentile may see tax bills as high as $2,029. These figures highlight the variability in tax obligations depending on property values and local tax rates. The highest median tax bill in the region is $1,594, which is still below the national median property tax rate of 0.99%. This means homeowners in Wildwood generally benefit from relatively lower property tax rates compared to the national average, potentially making it a more attractive location for property investment.
Average Wildwood Tax Bill
$1,594
Average Hamilton County Tax Bill
$1,209
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Wildwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30757 | $669 | $1,015 | $1,594 | $1,866 | $2,029 |
Source: Ownwell