Bon Aqua, Tennessee Property Taxes
The median property tax rate in Bon Aqua, TN is 0.47%, which is significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Bon Aqua at $242,100, the typical annual property tax bill amounts to $1,163, considerably below the national median of $2,690. Property taxes in Bon Aqua are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bon Aqua'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 Bon Aqua 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
Bon Aqua, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$1,138
Ownwell’s Bon Aqua Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bon Aqua with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bon Aqua 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 Bon Aqua, Tennessee
Property taxes in Bon Aqua, Tennessee, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Bon Aqua stands at 0.47%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Bon Aqua set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bon Aqua 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 Bon Aqua's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37025 has both the highest and lowest median property tax rate of 0.47%. Understanding how these areas compare with Bon Aqua provides valuable insights into the varying tax landscape across Williamson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bon Aqua Tax Rate
0.47%
Average Williamson County Tax Rate
0.54%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bon Aqua, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37025 | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Bon Aqua, Tennessee
In Bon Aqua, 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 Williamson County Assessor 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 Bon Aqua, 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 Bon Aqua helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bon Aqua is $242,100, with tax bills ranging from $806 at the 25th percentile to $2,352 at the 90th percentile. The highest and lowest median tax bill in the area is $1,163, found in the 37025 zip code.
Average Bon Aqua Assessed Value
$242,100
Average Williamson County Assessed Value
$492,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bon Aqua, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37025 | $126,720 | $169,025 | $242,100 | $319,625 | $549,690 |
Source: Ownwell
Property Tax Bills Across Bon Aqua, Tennessee
Property tax bills in Bon Aqua, located in Williamson County, TN, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. In Bon Aqua, the median home price stands at $242,100. Homeowners can expect their tax bills to vary within a range, with the 25th percentile tax bill at $806 and the 75th percentile reaching $1,435. The 90th percentile tax bill can go up to $2,352. These property taxes fund essential local services such as schools, public safety, and infrastructure. For comparison, the national median property tax rate is 0.99%, highlighting that Bon Aqua's property tax bills can be relatively moderate. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances accordingly. The highest and lowest median tax bills in the region are both $1,163, found in the zip code 37025, providing a consistent benchmark for residents.
Average Bon Aqua Tax Bill
$1,163
Average Williamson County Tax Bill
$2,616
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Bon Aqua, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37025 | $596 | $806 | $1,163 | $1,435 | $2,352 |
Source: Ownwell