Brighton, Tennessee Property Taxes
The median property tax rate in Brighton, TN is 0.85%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With a median home value of $200,300 in Brighton, the typical annual property tax bill amounts to $1,739, falling below the national median of $2,690. Property taxes in Brighton are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Brighton'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 Brighton or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brighton, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,703
$1,580
Ownwell’s Brighton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Brighton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brighton to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more granular trends, scrolling down reveals localized information at the neighborhood level. 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 Brighton, Tennessee
Property taxes in Brighton, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brighton is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Brighton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brighton 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 Brighton's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38011 has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Brighton provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brighton Tax Rate
0.85%
Average Shelby County Tax Rate
1.52%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brighton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38011 | 0.66% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Brighton, Tennessee
In Brighton, 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 Shelby 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 Brighton, 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. The median home price in Brighton is $200,300, with tax bills ranging from $1,268 at the 25th percentile to $2,934 at the 90th percentile. The zip code 38011 has the highest and lowest median tax bill of $1,739. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Brighton Assessed Value
$200,300
Average Shelby County Assessed Value
$147,100
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brighton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38011 | $94,600 | $149,600 | $200,300 | $263,700 | $364,460 |
Source: Ownwell
Property Tax Bills Across Brighton, Tennessee
In Brighton, Shelby County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Brighton is $200,300. Property tax rates in this region are applied to the assessed value to determine the annual tax bill. For instance, homeowners in Brighton can expect a tax bill ranging from $1,268 at the 25th percentile to $2,268 at the 75th percentile, with the 90th percentile reaching up to $2,934. Several factors influence the property tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions. These taxes fund essential public services such as schools, roads, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Brighton's property taxes reflect the region's specific economic conditions and public service needs, ensuring that homeowners contribute fairly to maintaining local infrastructure and services.
Average Brighton Tax Bill
$1,739
Average Shelby County Tax Bill
$1,907
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Brighton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38011 | $897 | $1,268 | $1,739 | $2,268 | $2,934 |
Source: Ownwell