Example of Rhea County Property Tax Calculation
Rhea County calculates property tax based on the assessed value of the property. For example, if a property is assessed at $100,000, the property tax rate in Rhea County is $2.75 for every $100 of assessed value. To calculate the property tax, multiply the assessed value by the tax rate: $100,000 x 0.0275 = $2,750 in property tax. It's important to note that property tax rates and assessed values may vary depending on the location and type of property.
If you want appeal your property tax assessment - contact your local tax assessor.
Rhea County Property Tax Rates
Here is a formatted table listing the Rhea County Property Tax rates in US dollars per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General | $2.42 |
| Highway | $0.29 |
| Education | $2.22 |
| Debt Service | $0.00 |
| Solid Waste | $0.70 |
| Total | $5.63 |
It should be noted that these rates are subject to change and may vary depending on the specific property and its location within Rhea County. As a tax advisor, it is important to stay up-to-date on any changes to these rates to best serve clients.
When is Rhea County Property Tax due ?
Rhea County Property Tax typically has a due date of February 28th each year. However, if February 28th falls on a weekend or holiday, the due date is extended to the following business day.
Payment methods for Rhea County Property Tax include:
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Online: Payments can be made online through the Rhea County Trustee's website using a credit/debit card or e-check.
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Mail: Payments can be mailed to the Rhea County Trustee's Office using a check or money order. The mailing address is listed on the tax statement.
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In-person: Payments can also be made in person at the Rhea County Trustee's Office using cash, check, or money order.
It is important to note that failure to pay Rhea County Property Tax by the due date can result in penalties and interest. Therefore, it is recommended to pay on time and utilize any available payment methods to ensure timely payment.
If you have more questions - contact your local tax collector.
Who sets property tax rates in Rhea County ?
Rhea County Property Tax Rates
Property tax rates in Rhea County, Tennessee, are set by the Rhea County Commission. This governing body consists of 15 elected officials who meet regularly to determine the county's budget and establish tax rates.
The commission typically meets in June of each year to set the property tax rates for the upcoming fiscal year. This process involves reviewing the county's financial needs and balancing them against the revenue generated from property taxes.
Property owners in Rhea County can expect to pay an average of 0.978% of their property's assessed value in property taxes. This rate is subject to change based on the commission's annual review.
It's important to note that property tax rates can vary based on the specific location and type of property. Property owners are encouraged to contact the Rhea County Property Assessor's Office for more information on their individual property tax rates.
In summary, the Rhea County Commission, consisting of 15 elected officials, sets the property tax rates in Rhea County. The commission meets annually in June to determine the rates for the upcoming fiscal year, and property owners can expect to pay an average of 0.978% of their property's assessed value in taxes.
Homestead exemptions in Rhea County ?
To provide valuable information to Tennessee residents, below is a table containing all county-specific Homestead exemptions and deductions in Rhea County.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | All homeowners | Up to $35,000 of assessed value | Applies to primary residence |
| Disabled Veteran's Exemption | Disabled veterans with 100% service-connected disability | Up to $100,000 of assessed value | Applies to primary residence |
| Elderly or Disabled Tax Relief | Homeowners over 65 years of age or disabled homeowners | Up to $29,000 of assessed value | Income requirements apply |
| Surviving Spouse Tax Relief | Surviving spouse of a homeowner who was 65 or older or disabled | Up to $29,000 of assessed value | Must have lived with the deceased spouse |
| Property Tax Freeze | Homeowners over 65 years of age or disabled homeowners | Freezes property tax at current rate | Income requirements apply |
It is important for residents of Rhea County to understand their eligibility for these exemptions and deductions, as they can significantly reduce their property taxes. By taking advantage of these opportunities, homeowners can save money and ensure their financial stability.
How is Rhea County Property Tax penalty calculated ?
Rhea County Property Tax Penalty Calculation
Property taxes are an essential source of revenue for Rhea County to fund vital public services such as schools, police, and fire departments. Property owners are required to pay their property tax bill by the due date to avoid penalties.
The penalty for late payment is calculated as a percentage of the unpaid tax amount. The penalty is charged in addition to the interest on the unpaid tax.
Here is an example of how the penalty for Rhea County Property Tax is calculated:
Assume that John owns a property in Rhea County, and his property tax bill for the year is $1,000. The due date for payment is February 28. John is unable to pay the bill by the due date, and he pays the bill on March 15.
The penalty for late payment is 1.5% per month, and the interest rate is 1% per month. Therefore, John's penalty for late payment is calculated as follows:
- Number of months late: 1 (March 1 - March 31)
- Penalty rate: 1.5% per month
- Penalty amount: $1,000 x 1.5% = $15
- Number of months late: 0.5 (April 1 - April 15)
- Penalty rate: 1.5% per month
- Penalty amount: $1,000 x 0.75% = $7.50
The total penalty amount in this case would be $22.50 ($15 + $7.50), and the total interest amount would be $10 ($1,000 x 1% x 1 month).
Therefore, John's total payment for his property tax bill would be $1,032.50 ($1,000 + $22.50 + $10).
It is essential to note that the penalty and interest rates are subject to change based on the Rhea County government policies. Therefore, property owners are advised to check the latest rates from the county government website or contact the county's property tax office for more information.
In conclusion, property owners in Rhea County must pay their property tax bills on time to avoid penalties and interest. It is essential to keep track of payment due dates and the latest penalty and interest rates to avoid any surprises.
We recommend contacting the Rhea County Tax Office or a local tax professional for the most up-to-date and accurate information.