Portland, Tennessee Property Taxes
The median property tax rate in Portland, TN is 0.64%, which aligns with the Tennessee state median but is notably lower than the national median of 0.99%. With the median home value in Portland at $191,500, the typical annual property tax bill amounts to $1,233, significantly below the national median of $2,690. Property taxes in Portland are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural land. Understanding Portland'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 Portland or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Portland, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,226
$1,137
Ownwell’s Portland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Portland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Portland 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 Portland, Tennessee
Property taxes in Portland, Tennessee, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Portland is 0.64%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Portland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Portland 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 Portland's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37148 has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Portland provides valuable insights into the varying tax landscape across Robertson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Portland Tax Rate
0.64%
Average Robertson County Tax Rate
0.64%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Portland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37148 | 0.64% | 0.64% | 0.64% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Portland, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Portland, Tennessee. The market value represents 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 Robertson 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 Portland, 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 median home price in Portland is $191,500, and property tax bills can range significantly. The 25th percentile tax bill is $880, while the 75th percentile tax bill is $1,726, and the 90th percentile tax bill reaches $2,445. Notably, the highest and lowest median tax bills both stand at $1,233 in the 37148 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Portland Assessed Value
$191,500
Average Robertson County Assessed Value
$178,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Portland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37148 | $92,550 | $136,700 | $191,500 | $267,225 | $379,760 |
Source: Ownwell
Property Tax Bills Across Portland, Tennessee
In Portland, TN, property tax bills are determined based on the assessed value of your home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For instance, the median home price in Portland is $191,500. Homeowners in Portland can expect their property tax bills to vary significantly. At the 25th percentile, property tax bills are around $880, while at the 75th percentile, they reach approximately $1,726. The 90th percentile sees tax bills as high as $2,445. Compared to the national median property tax rate of 0.99%, Portland’s tax rates can be considered moderate. These variations in tax bills reflect differences in property values and specific local tax rates. Understanding these factors is crucial for homeowners as it affects their annual financial planning and overall cost of owning property in Portland.
Average Portland Tax Bill
$1,233
Average Robertson County Tax Bill
$1,400
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Portland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37148 | $596 | $880 | $1,233 | $1,726 | $2,445 |
Source: Ownwell