Helenwood, Tennessee Property Taxes
The median property tax rate in Helenwood, TN is 0.62%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Helenwood being $65,600, the typical annual property tax bill is $423, significantly less than the national median of $2,690. Property taxes in Helenwood are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Helenwood'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 Helenwood or another part of Scott County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Helenwood, 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 Helenwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Helenwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Helenwood 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 Helenwood, Tennessee
Property taxes in Helenwood, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Helenwood is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Helenwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Helenwood 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 Helenwood's effective property tax rate to other areas in Tennessee and the national median. For comparison, the 37755 zip code has a median property tax rate of 0.62%, which is the same as Helenwood's rate. Understanding how these cities compare with Helenwood provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Helenwood Tax Rate
0.62%
Average Scott County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Helenwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37755 | 0.62% | 0.62% | 0.62% | 0.62% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Helenwood, Tennessee
In Helenwood, 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 Scott 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. Assessment notices in Helenwood 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 Helenwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Helenwood, the median home price is $65,600, with the highest median tax bill of $423 in the 37755 zip code.
Average Helenwood Assessed Value
$65,600
Average Scott County Assessed Value
$69,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Helenwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37755 | $15,200 | $35,550 | $65,600 | $107,400 | $167,600 |
Source: Ownwell
Property Tax Bills Across Helenwood, Tennessee
Property tax bills in Helenwood, located in Scott County, TN, are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the home. The tax rate, set by local government authorities, is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including the property's size, location, and any improvements made. In Helenwood, the median home price stands at $65,600. Property tax bills can vary significantly, with the 25th percentile tax bill at $233 and the 75th percentile at $697. For those at the higher end, the 90th percentile tax bill reaches $1,066. These property taxes are crucial for funding local services such as schools, emergency services, and infrastructure. For homeowners, understanding how their tax bill is calculated can help in financial planning and ensuring they are prepared for annual expenses.
Average Helenwood Tax Bill
$423
Average Scott County Tax Bill
$471
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Helenwood, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37755 | $108 | $233 | $423 | $697 | $1,066 |
Source: Ownwell