Bells, Tennessee Property Taxes
The median property tax rate in Bells, TN is 0.69%, slightly higher than the Tennessee state median of 0.64% but lower than the national median of 0.99%. With a median home value of $88,000 in Bells, the typical annual property tax bill amounts to $608, which is significantly below the national median of $2,690. Property taxes in Bells are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Bells' property tax system, exploring available exemptions, and finding opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Bells or another part of Haywood County, familiarizing yourself with 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
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Bells Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Bells with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Bells to estimate your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the figure assigned by the county for property tax calculations, taking into account any applicable exemptions.
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 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Bells set these rates annually, and they can vary 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 areas in Haywood County and the national median. For comparison, the zip code 38006 has both the highest and lowest median property tax rate in the county, standing at 0.69%. Understanding how these areas compare with Bells provides valuable insights into the varying tax landscape across Haywood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bells Tax Rate
0.69%
Average Haywood County Tax Rate
1.06%
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 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Bells, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bells, Tennessee. The market value represents 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 Haywood 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 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. Bells has a median home price of $88,000, with tax bills varying significantly. For instance, the 25th percentile tax bill is $384, while the 75th percentile tax bill is $1,005. The highest median tax bill in the area is $608, found in zip code 38006, which is also the lowest. 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 Bells helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bells Assessed Value
$88,000
Average Haywood County Assessed Value
$76,350
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 | $37,600 | $55,800 | $88,000 | $144,500 | $268,600 |
Source: Ownwell
Property Tax Bills Across Bells, Tennessee
In Bells, located in Haywood County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate is then applied to this assessed value to determine the final tax bill. For instance, with a median home price of $88,000, homeowners can expect tax bills varying widely depending on specific circumstances. The 25th percentile tax bill is $384, while the 75th percentile tax bill reaches $1,005, and the 90th percentile can go as high as $1,960. These amounts are influenced by factors such as property location, improvements, and local tax rates. Compared to the national median property tax rate of 0.99%, residents in Bells experience a diverse range of tax obligations. Understanding these factors helps homeowners anticipate their annual property tax expenses and plan their finances accordingly.
Average Bells Tax Bill
$608
Average Haywood County Tax Bill
$746
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 | $259 | $384 | $608 | $1,005 | $1,960 |
Source: Ownwell