Rockvale, Tennessee Property Taxes
The median property tax rate in Rockvale, TN is 0.47%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Rockvale at $360,550, the typical annual property tax bill amounts to $1,717, which is well below the national median of $2,690. Property taxes in Rockvale are calculated based on the assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Rockvale’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 Rockvale or another part of Rutherford County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rockvale, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$1,695
$1,573
Ownwell’s Rockvale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rockvale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rockvale 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 Rockvale, Tennessee
Property taxes in Rockvale, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockvale is 0.47%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Rockvale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockvale 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 Rockvale's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37153 zip code has the highest median property tax rate of 0.47%, while the same zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Rockvale 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 Rockvale 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 Rockvale, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37153 | 0.47% | 0.47% | 0.47% | 0.47% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Rockvale, Tennessee
In Rockvale, 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 Rockvale, 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 Rockvale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Rockvale is $1717 in the 37153 zip code, while the lowest median tax bill is also $1717 in the same zip code.
Average Rockvale Assessed Value
$360,550
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 Rockvale, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37153 | $245,000 | $287,225 | $360,550 | $458,375 | $585,490 |
Source: Ownwell
Property Tax Bills Across Rockvale, Tennessee
In Rockvale, property tax bills are calculated based on the assessed value of a home, which is determined by the Rutherford County Assessor's Office. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For homeowners in Rockvale, the median home price is $360,550, and tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $1,353, while at the 75th percentile, it rises to $2,386. At the 90th percentile, homeowners can expect to pay around $3,110. These property taxes fund essential public services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, Rockvale's property taxes can have a considerable impact on homeowners, influencing their overall cost of living and financial planning.
Average Rockvale Tax Bill
$1,717
Average Rutherford County Tax Bill
$1,892
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockvale, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37153 | $1,160 | $1,353 | $1,717 | $2,386 | $3,110 |
Source: Ownwell