Speedwell, Claiborne County, Tennessee Property Taxes
Median Speedwell, TN effective property tax rate: 0.58%, significantly lower than the national median of 1.02%, but lower than the Tennessee state median of 0.64%.
Median Speedwell, TN home value: $104,400
Median annual Speedwell, TN tax bill: $626, $1,774 lower than the national median property tax bill of $2,400.
How are property taxes in Claiborne calculated?
Property taxes in Speedwell, TN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Speedwell’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Speedwell, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Speedwell, Claiborne County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.58%
Estimate Property Tax Bill
$606
$562
Property Tax Rates Across Speedwell, Claiborne County, Tennessee
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Speedwell Tax Rate
0.58%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Claiborne County Tax Rate
0.58%
Median Effective Tennessee Tax Rate
0.64%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Speedwell, Claiborne County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37870 | 0.57% | 0.57% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Speedwell, Claiborne County, Tennessee
When examining property taxes in Speedwell, TN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Claiborne County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Claiborne County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Speedwell. For example, the median home price in Speedwell is $104,400, with tax bills ranging significantly across the county. Zip code 37870 has the highest median home price at $104,400.
Property Tax Assessment Values Across Speedwell, Claiborne County, Tennessee
Source: Ownwell
$30,600
$84,150
$137,700
Median Speedwell Market Value
$104,400
Median Claiborne County Market Value
$114,300
Median Tennessee Market Value
$173,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Speedwell, Claiborne County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37870 | $29,640 | $62,050 | $104,400 | $166,850 | $256,380 |
Source: Ownwell
Property Tax Bills Across Speedwell, Claiborne County, Tennessee
In Speedwell, Claiborne County, TN, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. Typically, homes are assessed at a percentage of their market value. In Speedwell, homeowners face a median property tax bill of $626, significantly lower than the national median of $2,400. This lower tax bill can be attributed to the median home price of $104,400 in the area. However, property tax bills can vary widely, with the 25th percentile at $376 and the 90th percentile reaching up to $1,494. These variations depend on factors such as property size, location, and improvements made to the home.
Ownwell assists homeowners in Speedwell by identifying potential savings on their property tax bills. Our experts review assessments for accuracy, ensuring that homeowners aren't overpaying. By leveraging local knowledge and tax expertise, Ownwell can help you appeal incorrect assessments and apply for exemptions, potentially reducing your property tax burden and keeping more money in your pocket.
Median Speedwell Tax Bill
$626
Median Claiborne County Tax Bill
$680
Median Tennessee Tax Bill
$1,206
Median United States Tax Bill
$2,400
Property Tax Bills Across Speedwell, Claiborne County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37870 | $181 | $376 | $626 | $975 | $1,494 |
Source: Ownwell
