Kelso, Tennessee Property Taxes
The median property tax rate in Kelso, Tennessee is 0.53%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Kelso at $103,100, the typical annual property tax bill is $542, well below the national median of $2,690. Property taxes in Kelso 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 Kelso'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 Kelso or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kelso, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$546
Ownwell’s Kelso Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kelso with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kelso 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 Kelso, Tennessee
Property taxes in Kelso, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kelso is 0.53%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Kelso set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kelso 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 Kelso's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37348 zip code has the highest median property tax rate of 0.53%, while the same 37348 zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with Kelso provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kelso Tax Rate
0.53%
Average Lincoln County Tax Rate
0.53%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kelso, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37348 | 0.52% | 0.53% | 0.53% | 0.53% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Kelso, Tennessee
In Kelso, 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 Lincoln 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 Kelso, 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 Kelso helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Kelso is $542 in the zip code 37348, which is also the lowest median tax bill.
Average Kelso Assessed Value
$103,100
Average Lincoln County Assessed Value
$117,700
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kelso, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37348 | $31,400 | $53,100 | $103,100 | $165,000 | $249,900 |
Source: Ownwell
Property Tax Bills Across Kelso, Tennessee
In Kelso, located in Lincoln County, TN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value of the property. The tax rate is applied to this assessed value to determine the annual property tax bill. Factors that influence the tax bill include the market value of the home, local government budgets, and specific property characteristics. For homeowners in Kelso, the median home price is $103,100. The tax bill can vary significantly, with the 25th percentile tax bill being $281 and the 75th percentile reaching $873. At the 90th percentile, homeowners might see a tax bill as high as $1,326. These variations reflect differences in property values and assessments within the area. Comparatively, Kelso's property tax rates offer some relief as they are generally lower than the national median property tax rate of 0.99%, making it a relatively affordable place for homeowners.
Average Kelso Tax Bill
$542
Average Lincoln County Tax Bill
$686
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Kelso, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37348 | $165 | $281 | $542 | $873 | $1,326 |
Source: Ownwell