Goodlettsville, Tennessee Property Taxes
The median property tax rate in Goodlettsville, TN is 0.76%, which is lower than the national median of 0.99% but higher than Tennessee's state median of 0.64%. With a median home value of $255,700 in Goodlettsville, the typical annual property tax bill amounts to $1,961, falling below the national median of $2,690. Property taxes in Goodlettsville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Goodlettsville'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 Goodlettsville 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
Goodlettsville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,943
Ownwell’s Goodlettsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goodlettsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goodlettsville 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 Goodlettsville, Tennessee
Property taxes in Goodlettsville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goodlettsville is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Goodlettsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goodlettsville 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 Goodlettsville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37072 zip code has the highest median property tax rate of 0.76%, while the same zip code also has the lowest median tax rate of 0.76%. Understanding how these cities compare with Goodlettsville provides valuable insights into the varying tax landscape across Sumner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Goodlettsville Tax Rate
0.76%
Average Sumner County Tax Rate
0.76%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goodlettsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37072 | 0.76% | 0.76% | 0.76% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Goodlettsville, Tennessee
In Goodlettsville, 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 Sumner County Assessor of Property 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 Goodlettsville, 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 Goodlettsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Goodlettsville are both $1961.00, found in the 37072 zip code.
Property Tax Assessment Values Across Goodlettsville, Tennessee
Source: Ownwell
$127,500
$210,100
$292,700
Average Goodlettsville Assessed Value
$255,700
Average Sumner County Assessed Value
$246,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Goodlettsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37072 | $98,740 | $181,000 | $255,700 | $353,100 | $427,200 |
Source: Ownwell
Property Tax Bills Across Goodlettsville, Tennessee
In Goodlettsville, Sumner County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as the home's location, size, and condition play a significant role in determining its market value and, consequently, its assessed value. For instance, the median home price in Goodlettsville is $255,700. Homeowners in the 25th percentile can expect a tax bill around $1,395, while those in the 75th percentile might see bills closer to $2,677. At the 90th percentile, tax bills can go up to $3,225. The highest and lowest median tax bills in the area are both $1,961, indicating a relatively consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, Goodlettsville's tax rates are competitive, making it an attractive option for homeowners seeking reasonable property taxes. Understanding these calculations can help homeowners budget effectively and anticipate their annual tax obligations.
Average Goodlettsville Tax Bill
$1,961
Average Sumner County Tax Bill
$1,839
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Goodlettsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37072 | $756 | $1,395 | $1,961 | $2,677 | $3,225 |
Source: Ownwell