Brighton, Tennessee Property Taxes
The median property tax rate in Brighton, TN is 0.51%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Brighton, the typical annual property tax bill reaches $894, significantly below the national median of $2,690. Property taxes in Brighton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. 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 Tipton County, understanding 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
0.51%
Estimate Property Tax Bill
$768
Ownwell’s Brighton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner 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 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 Brighton, Tennessee
Property taxes in Brighton, Tennessee, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Brighton is 0.51%, which is lower than both the Tennessee state median and 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 38011 zip code has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Brighton provides valuable insights into the varying tax landscape across Tipton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brighton Tax Rate
0.51%
Average Tipton County Tax Rate
0.51%
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 | 0.51% | 0.51% | 0.51% | 0.76% | 0.76% |
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 Tipton 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 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. For example, the median tax bill in Brighton ranges significantly, with the 25th percentile at $520 and the 90th percentile at $1,637. Being aware of these valuation processes in Brighton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Brighton Assessed Value
$150,500
Average Tipton County Assessed Value
$143,800
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 | $60,400 | $96,000 | $150,500 | $213,100 | $294,560 |
Source: Ownwell
Property Tax Bills Across Brighton, Tennessee
In Brighton, Tipton County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners, the median home price stands at $150,500. The tax rate is applied to this assessed value to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax amount. Homeowners in Brighton experience a range of property tax bills. At the 25th percentile, the tax bill is around $520, while at the 75th percentile, it rises to approximately $1,262. For those in the 90th percentile, the bill can reach up to $1,637. The highest median tax bill within Brighton is $894, with the same amount also being the lowest median tax bill, indicating a uniform tax rate across the area. Compared to the national median property tax rate of 0.99%, Brighton's property tax bills reflect the local economic conditions and property values, impacting homeowners' annual financial obligations.
Average Brighton Tax Bill
$894
Average Tipton County Tax Bill
$880
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 | $332 | $520 | $894 | $1,262 | $1,637 |
Source: Ownwell