Bell Buckle, Tennessee Property Taxes
The median property tax rate in Bell Buckle, 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 $288,450 in Bell Buckle, the typical annual property tax bill amounts to $1,340, which is well below the national median of $2,690. Property taxes in Bell Buckle are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bell Buckle'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 Bell Buckle or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bell Buckle, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$1,356
Ownwell’s BELL BUCKLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BELL BUCKLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BELL BUCKLE 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 Bell Buckle, Tennessee
Property taxes in Bell Buckle, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bell Buckle is 0.47%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Bell Buckle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bell Buckle 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 Bell Buckle's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37020 zip code has the highest median property tax rate of 0.47%, while the 37020 zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Bell Buckle provides valuable insights into the varying tax landscape across Rutherford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bell Buckle Tax Rate
0.47%
Average Rutherford County Tax Rate
0.60%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bell Buckle, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37020 | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Bell Buckle, Tennessee
In Bell Buckle, 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 Rutherford 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 Bell Buckle, 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 Bell Buckle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 37020 has the highest and lowest median tax bill, both at $1,340.
Average Bell Buckle Assessed Value
$288,450
Average Rutherford County Assessed Value
$316,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bell Buckle, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37020 | $229,180 | $257,125 | $288,450 | $409,825 | $600,000 |
Source: Ownwell
Property Tax Bills Across Bell Buckle, Tennessee
In Bell Buckle, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the county's property assessor. This assessed value is a percentage of the property's market value. Homeowners in Bell Buckle can expect their property tax bills to fall within a range, with the 25th percentile tax bill at $1,198 and the 75th percentile at $1,890. For those at the higher end, the 90th percentile tax bill reaches up to $2,785. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. The median home price in Bell Buckle is $288,450, which serves as a reference point for many homeowners. Compared to the national median property tax rate of 0.99%, Bell Buckle's property tax rates provide a significant point of comparison for potential homeowners. Understanding these elements can help homeowners anticipate their financial obligations and plan accordingly.
Average Bell Buckle Tax Bill
$1,340
Average Rutherford County Tax Bill
$1,892
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Bell Buckle, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37020 | $1,067 | $1,198 | $1,340 | $1,890 | $2,785 |
Source: Ownwell