Grandview, Tennessee Property Taxes
The median property tax rate in Grandview, TN is 0.56%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $95,200 in Grandview, the typical annual property tax bill is $534, well below the national median of $2,690. Property taxes in Grandview are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Grandview'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 Grandview or another part of the city, knowing the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grandview, 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 Grandview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grandview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grandview 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 Grandview, Tennessee
Property taxes in Grandview, Tennessee, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Grandview is 0.56%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Grandview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grandview 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 Grandview's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37337 zip code has the highest median property tax rate of 0.56%, while the same 37337 zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Grandview provides valuable insights into the varying tax landscape across Rhea County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grandview Tax Rate
0.56%
Average Rhea County Tax Rate
0.56%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grandview, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37337 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Grandview, Tennessee
In Grandview, 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 Rhea 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 Grandview, 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 Grandview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Grandview are both $534.00, found in zip code 37337.
Average Grandview Assessed Value
$95,200
Average Rhea County Assessed Value
$105,200
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grandview, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37337 | $25,460 | $48,875 | $95,200 | $153,700 | $220,600 |
Source: Ownwell
Property Tax Bills Across Grandview, Tennessee
In Grandview, located in Rhea County, TN, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the market value, which in this region is determined by the county assessor's office. Homeowners in Grandview can expect their tax bills to vary significantly, as shown by the 25th percentile tax bill of $270 and the 75th percentile tax bill of $862. At the higher end, the 90th percentile tax bill reaches $1,226. The median home price in Grandview is $95,200, which influences the assessed value and, subsequently, the property tax bill. These tax bills are used to fund essential community services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Grandview's property tax rates and bills can be relatively lower, making it an attractive location for homeowners seeking affordable property taxes. This variability in tax bills underscores the importance of understanding how local assessments and tax rates impact overall housing costs.
Average Grandview Tax Bill
$534
Average Rhea County Tax Bill
$668
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Grandview, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37337 | $141 | $270 | $534 | $862 | $1,226 |
Source: Ownwell