Beech Bluff, Madison County, Tennessee Property Taxes
The median property tax rate in Beech Bluff, TN is 0.47%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $97,550 in Beech Bluff, the typical annual property tax bill is about $451, which is well below the national median of $2,690. Property taxes in Beech Bluff are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Beech Bluff'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 Beech Bluff or another part of Madison County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Beech Bluff, Madison County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$458
$425
Ownwell’s Beech Bluff Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Beech Bluff with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Beech Bluff 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 Beech Bluff, Madison County, Tennessee
Property taxes in Beech Bluff, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Beech Bluff is 0.47%, which is significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Beech Bluff set these rates annually, and they can vary significantly across different neighborhoods. Each year, Beech Bluff 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 Beech Bluff's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38313 zip code has the highest median property tax rate of 0.47%, while the 38313 zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Beech Bluff provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Beech Bluff Tax Rate
0.47%
Average Madison County Tax Rate
0.87%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Beech Bluff, Madison County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38313 | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Beech Bluff, Madison County, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Beech Bluff, Tennessee. 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 Madison 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 Beech Bluff, 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. The median home price in Beech Bluff is $97,550, with annual tax bills ranging from $144 at the 25th percentile to $1,118 at the 90th percentile. The zip code with the highest and lowest median tax bill is 38313, both at $451. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Beech Bluff, Madison County, Tennessee
Source: Ownwell
$43,800
$120,300
$196,800
Average Beech Bluff Assessed Value
$97,550
Average Madison County Assessed Value
$135,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Beech Bluff, Madison County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38313 | $12,990 | $31,125 | $97,550 | $170,550 | $238,960 |
Source: Ownwell
Property Tax Bills Across Beech Bluff, Madison County, Tennessee
In Beech Bluff, property tax bills are calculated based on the assessed value of a property, which is determined by the Madison County Assessor's office. The assessed value is a percentage of the market value of the home. Homeowners in Beech Bluff see a range of property tax bills, influenced by factors such as property size, location, and improvements. The median home price in Beech Bluff is $97,550. Property tax bills in the area vary significantly, with the 25th percentile at $144 and the 75th percentile reaching $795. The highest median tax bill in the zip code 38313 is $451, which is below the national median property tax rate of 0.99%. For homeowners, these tax bills can impact their annual budgets and the overall affordability of their properties. Lower property taxes can make homeownership more accessible, while higher taxes may require careful financial planning. Understanding how these bills are calculated helps homeowners anticipate their financial obligations and manage their expenses effectively.
Average Beech Bluff Tax Bill
$451
Average Madison County Tax Bill
$848
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Beech Bluff, Madison County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38313 | $61 | $144 | $451 | $795 | $1,118 |
Source: Ownwell