Bradenton, Tennessee Property Taxes
The median property tax rate in Bradenton, TN is 0.63%, slightly lower than both the national median of 0.99% and Tennessee's state median of 0.64%. With a median home value of $19,100 in Bradenton, the typical annual property tax bill amounts to $120, significantly below the national median of $2,690. Property taxes in Bradenton are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Bradenton'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 Bradenton or another part of Polk County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bradenton, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$120
$112
Ownwell’s Bradenton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bradenton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bradenton 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 Bradenton, Tennessee
Property taxes in Bradenton, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bradenton is 0.63%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Bradenton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bradenton 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 Bradenton's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 34212 zip code has the highest median property tax rate of 0.63%, while the 34203 zip code has the lowest median tax rate of 0.63%. Understanding how these cities compare with Bradenton provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bradenton Tax Rate
0.63%
Average Polk County Tax Rate
0.63%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bradenton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34203 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| 34212 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Bradenton, Tennessee
In Bradenton, 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 Polk 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 Bradenton, 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. For example, the highest median tax bill in Bradenton is $544 in the 34212 zip code, while the lowest median tax bill is $106 in the 34203 zip code. 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 Bradenton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bradenton Assessed Value
$19,100
Average Polk County Assessed Value
$48,850
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bradenton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34203 | $15,220 | $15,850 | $16,900 | $17,950 | $18,580 |
| 34212 | $32,700 | $52,950 | $86,700 | $120,450 | $140,700 |
Source: Ownwell
Property Tax Bills Across Bradenton, Tennessee
In Bradenton, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value typically reflects a percentage of the property's market value. Various factors such as property location, size, and improvements made to the property can influence this value. Once the assessed value is established, the tax rate set by local authorities is applied to calculate the tax bill. Homeowners in Bradenton experience a range of property tax bills. For instance, the 25th percentile tax bill is $112, while the 75th percentile tax bill is $333, and the 90th percentile tax bill reaches $714. The median home price in Bradenton stands at $19,100, which influences the overall tax burden on homeowners. Compared to the national median property tax rate of 0.99%, the property tax dynamics in Bradenton can significantly impact household budgets, especially when considering the highest median tax bill of $544 in zip code 34212 and the lowest median tax bill of $106 in zip code 34203.
Average Bradenton Tax Bill
$120
Average Polk County Tax Bill
$310
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Bradenton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 34203 | $96 | $100 | $106 | $112 | $116 |
| 34212 | $206 | $333 | $544 | $756 | $883 |
Source: Ownwell