Ten Mile, Tennessee Property Taxes
The median property tax rate in Ten Mile, TN is 0.60%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $170,700 in Ten Mile, the typical annual property tax bill amounts to $1,024, significantly below the national median of $2,690. Property taxes in Ten Mile are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Ten Mile'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 Ten Mile or another part of Roane County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ten Mile, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$1,024
$950
Ownwell’s Ten Mile Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Ten Mile with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ten Mile to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available further down the page. Your property’s assessed value is determined by Roane County for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Ten Mile, Tennessee
Property taxes in Ten Mile, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ten Mile is 0.60%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Ten Mile set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ten Mile 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 Ten Mile's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37880 zip code has the highest median property tax rate of 0.60%, while the 37880 zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Ten Mile provides valuable insights into the varying tax landscape across Roane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ten Mile Tax Rate
0.60%
Average Roane County Tax Rate
0.60%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ten Mile, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37880 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Ten Mile, Tennessee
In Ten Mile, 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 Roane County Assessor of Property 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 Ten Mile, 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 Ten Mile helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in the area is 37880, both at $1,024.
Average Ten Mile Assessed Value
$170,700
Average Roane County Assessed Value
$132,200
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ten Mile, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37880 | $40,120 | $87,100 | $170,700 | $309,300 | $490,740 |
Source: Ownwell
Property Tax Bills Across Ten Mile, Tennessee
In Ten Mile, located in Roane County, TN, property tax bills are calculated based on the assessed value of the property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For homeowners in Ten Mile, the median home price is $170,700. Property tax bills can vary significantly within the area, ranging from the 25th percentile at $522 to the 90th percentile at $2,946. Factors such as property size, location, and improvements can influence the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, Ten Mile's property tax rates can be either more affordable or more burdensome depending on the specific property. This variability in tax bills can impact homeowners' financial planning and the overall cost of homeownership. Understanding these factors is crucial for homeowners to anticipate their tax obligations accurately.
Average Ten Mile Tax Bill
$1,024
Average Roane County Tax Bill
$896
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Ten Mile, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37880 | $240 | $522 | $1,024 | $1,873 | $2,946 |
Source: Ownwell