Telford, Tennessee Property Taxes
The median property tax rate in Telford, TN is 0.54%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Telford at $101,100, the typical annual property tax bill amounts to $557, which is well below the national median of $2,690. Property taxes in Telford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Telford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Telford 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
Telford, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$546
Ownwell’s Telford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Telford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Telford 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 Telford, Tennessee
Property taxes in Telford, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Telford is 0.54%, which is lower than the U.S. national median of 0.99%. Local government entities within Telford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Telford 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 Telford's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37690 in Washington County has the highest median property tax rate of 0.54%, while the same zip code also has the lowest median tax rate of 0.54%. Understanding how these areas compare with Telford provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Telford Tax Rate
0.54%
Average Washington County Tax Rate
0.54%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Telford, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37690 | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Telford, Tennessee
In Telford, 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 Washington 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 Telford, 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 Telford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 37690 has both the highest and lowest median tax bill at $557, reflecting the uniformity in tax assessments within the area.
Average Telford Assessed Value
$101,100
Average Washington County Assessed Value
$131,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Telford, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37690 | $20,800 | $49,400 | $101,100 | $167,600 | $241,700 |
Source: Ownwell
Property Tax Bills Across Telford, Tennessee
In Telford, Washington County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by a percentage of the property's market value. The median home price in Telford stands at $101,100. The tax rate is applied to this assessed value to determine the annual property tax bill. For instance, homeowners in the 25th percentile can expect a tax bill of around $278, while those in the 75th percentile pay approximately $923. At the higher end, the 90th percentile sees tax bills reaching up to $1,310. This variation in tax bills reflects differences in property values and the specific assessments conducted. Factors such as property location, size, and condition play a significant role in determining the assessed value. Homeowners in Telford should be aware of these factors as they directly impact their annual property tax liabilities. Comparing these figures to the national median property tax rate of 0.99%, Telford’s property tax bills are relatively moderate, providing some relief to homeowners in the area.
Average Telford Tax Bill
$557
Average Washington County Tax Bill
$882
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Telford, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37690 | $115 | $278 | $557 | $923 | $1,310 |
Source: Ownwell