Burlison, Tipton County, Tennessee Property Taxes
The median property tax rate in Burlison, 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 Burlison at $104,300, the typical annual property tax bill reaches $529, significantly below the national median of $2,690. Property taxes in Burlison 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 Burlison'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 Burlison 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
Burlison, Tipton County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$532
$494
Ownwell’s Burlison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burlison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burlison 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 Burlison, Tipton County, Tennessee
Property taxes in Burlison, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burlison 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 Burlison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burlison 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 Burlison's effective property tax rate to other areas in Tennessee and the national median. For comparison, the 38015 zip code has both the highest and lowest median property tax rate of 0.51%. Understanding how these cities compare with Burlison 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 Burlison 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 Burlison, Tipton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38015 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Burlison, Tipton County, Tennessee
In Burlison, 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. In Burlison, 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 zip code with the highest median tax bill in Burlison is 38015, with a tax bill of $529. Conversely, the zip code with the lowest median tax bill is also 38015, reflecting the same amount. Being aware of these valuation processes in Burlison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Burlison, Tipton County, Tennessee
Source: Ownwell
$83,900
$147,700
$211,500
Average Burlison Assessed Value
$104,300
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 Burlison, Tipton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38015 | $15,900 | $58,700 | $104,300 | $172,175 | $238,760 |
Source: Ownwell
Property Tax Bills Across Burlison, Tipton County, Tennessee
In Burlison, Tipton County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to produce the annual tax bill. For example, with a median home price of $104,300, homeowners can expect a range of tax bills. The 25th percentile tax bill is around $298, while the 75th percentile reaches approximately $876, and the 90th percentile can go up to $1,198. The highest and lowest median tax bills in the area are both $529, indicating a level of consistency within the zip code 38015. Compared to the national median property tax rate of 0.99%, the property tax rates in Burlison can significantly affect homeowners, impacting their overall housing costs and financial planning. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Burlison Tax Bill
$529
Average Tipton County Tax Bill
$880
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Burlison, Tipton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38015 | $81 | $298 | $529 | $876 | $1,198 |
Source: Ownwell