diff --git a/homeassistant/components/mqtt/event.py b/homeassistant/components/mqtt/event.py
index c245b66fdb1..165d273f46e 100644
--- a/homeassistant/components/mqtt/event.py
+++ b/homeassistant/components/mqtt/event.py
@@ -29,7 +29,6 @@ from .const import (
     CONF_STATE_TOPIC,
     PAYLOAD_EMPTY_JSON,
     PAYLOAD_NONE,
-    TEMPLATE_ERRORS,
 )
 from .debug_info import log_messages
 from .mixins import (
@@ -39,6 +38,7 @@ from .mixins import (
 )
 from .models import (
     MqttValueTemplate,
+    MqttValueTemplateException,
     PayloadSentinel,
     ReceiveMessage,
     ReceivePayloadType,
@@ -134,7 +134,8 @@ class MqttEvent(MqttEntity, EventEntity):
             event_type: str
             try:
                 payload = self._template(msg.payload, PayloadSentinel.DEFAULT)
-            except TEMPLATE_ERRORS:
+            except MqttValueTemplateException as exc:
+                _LOGGER.warning(exc)
                 return
             if (
                 not payload
diff --git a/homeassistant/components/mqtt/image.py b/homeassistant/components/mqtt/image.py
index e91a8c5c259..91e11d06371 100644
--- a/homeassistant/components/mqtt/image.py
+++ b/homeassistant/components/mqtt/image.py
@@ -24,14 +24,19 @@ from homeassistant.util import dt as dt_util
 
 from . import subscription
 from .config import MQTT_BASE_SCHEMA
-from .const import CONF_ENCODING, CONF_QOS, TEMPLATE_ERRORS
+from .const import CONF_ENCODING, CONF_QOS
 from .debug_info import log_messages
 from .mixins import (
     MQTT_ENTITY_COMMON_SCHEMA,
     MqttEntity,
     async_setup_entity_entry_helper,
 )
-from .models import MessageCallbackType, MqttValueTemplate, ReceiveMessage
+from .models import (
+    MessageCallbackType,
+    MqttValueTemplate,
+    MqttValueTemplateException,
+    ReceiveMessage,
+)
 from .util import get_mqtt_data, valid_subscribe_topic
 
 _LOGGER = logging.getLogger(__name__)
@@ -191,7 +196,8 @@ class MqttImage(MqttEntity, ImageEntity):
             try:
                 url = cv.url(self._url_template(msg.payload))
                 self._attr_image_url = url
-            except TEMPLATE_ERRORS:
+            except MqttValueTemplateException as exc:
+                _LOGGER.warning(exc)
                 return
             except vol.Invalid:
                 _LOGGER.error(
diff --git a/homeassistant/components/mqtt/mixins.py b/homeassistant/components/mqtt/mixins.py
index 5736f821f69..554e83204dd 100644
--- a/homeassistant/components/mqtt/mixins.py
+++ b/homeassistant/components/mqtt/mixins.py
@@ -94,7 +94,6 @@ from .const import (
     DOMAIN,
     MQTT_CONNECTED,
     MQTT_DISCONNECTED,
-    TEMPLATE_ERRORS,
 )
 from .debug_info import log_message, log_messages
 from .discovery import (
@@ -109,6 +108,7 @@ from .discovery import (
 from .models import (
     MessageCallbackType,
     MqttValueTemplate,
+    MqttValueTemplateException,
     PublishPayloadType,
     ReceiveMessage,
 )
@@ -482,7 +482,8 @@ def write_state_on_attr_change(
             }
             try:
                 msg_callback(msg)
-            except TEMPLATE_ERRORS:
+            except MqttValueTemplateException as exc:
+                _LOGGER.warning(exc)
                 return
             if not _attrs_have_changed(tracked_attrs):
                 return
diff --git a/homeassistant/components/mqtt/models.py b/homeassistant/components/mqtt/models.py
index 1295bfb8ff3..9fcea353299 100644
--- a/homeassistant/components/mqtt/models.py
+++ b/homeassistant/components/mqtt/models.py
@@ -223,6 +223,36 @@ class MqttCommandTemplate:
             ) from exc
 
 
+class MqttValueTemplateException(TemplateError):
+    """Handle MqttValueTemplate exceptions."""
+
+    def __init__(
+        self,
+        *args: object,
+        base_exception: Exception,
+        value_template: str,
+        default: ReceivePayloadType | PayloadSentinel,
+        payload: ReceivePayloadType,
+        entity_id: str | None = None,
+    ) -> None:
+        """Initialize exception."""
+        super().__init__(base_exception, *args)
+        entity_id_log = "" if entity_id is None else f" for entity '{entity_id}'"
+        default_log = str(default)
+        default_payload_log = (
+            "" if default is PayloadSentinel.NONE else f", default value: {default_log}"
+        )
+        payload_log = str(payload)
+        self._message = (
+            f"{type(base_exception).__name__}: {base_exception} rendering template{entity_id_log}"
+            f", template: '{value_template}'{default_payload_log} and payload: {payload_log}"
+        )
+
+    def __str__(self) -> str:
+        """Return exception message string."""
+        return self._message
+
+
 class MqttValueTemplate:
     """Class for rendering MQTT value template with possible json values."""
 
@@ -291,14 +321,13 @@ class MqttValueTemplate:
                     )
                 )
             except TEMPLATE_ERRORS as exc:
-                _LOGGER.error(
-                    "%s: %s rendering template for entity '%s', template: '%s'",
-                    type(exc).__name__,
-                    exc,
-                    self._entity.entity_id if self._entity else "n/a",
-                    self._value_template.template,
-                )
-                raise
+                raise MqttValueTemplateException(
+                    base_exception=exc,
+                    value_template=self._value_template.template,
+                    default=default,
+                    payload=payload,
+                    entity_id=self._entity.entity_id if self._entity else None,
+                ) from exc
             return rendered_payload
 
         _LOGGER.debug(
@@ -318,17 +347,13 @@ class MqttValueTemplate:
                 )
             )
         except TEMPLATE_ERRORS as exc:
-            _LOGGER.error(
-                "%s: %s rendering template for entity '%s', template: "
-                "'%s', default value: %s and payload: %s",
-                type(exc).__name__,
-                exc,
-                self._entity.entity_id if self._entity else "n/a",
-                self._value_template.template,
-                default,
-                payload,
-            )
-            raise
+            raise MqttValueTemplateException(
+                base_exception=exc,
+                value_template=self._value_template.template,
+                default=default,
+                payload=payload,
+                entity_id=self._entity.entity_id if self._entity else None,
+            ) from exc
         return rendered_payload
 
 
diff --git a/homeassistant/components/mqtt/tag.py b/homeassistant/components/mqtt/tag.py
index 0eda584e95a..42c8760c302 100644
--- a/homeassistant/components/mqtt/tag.py
+++ b/homeassistant/components/mqtt/tag.py
@@ -3,6 +3,7 @@ from __future__ import annotations
 
 from collections.abc import Callable
 import functools
+import logging
 
 import voluptuous as vol
 
@@ -15,7 +16,7 @@ from homeassistant.helpers.typing import ConfigType, DiscoveryInfoType
 
 from . import subscription
 from .config import MQTT_BASE_SCHEMA
-from .const import ATTR_DISCOVERY_HASH, CONF_QOS, CONF_TOPIC, TEMPLATE_ERRORS
+from .const import ATTR_DISCOVERY_HASH, CONF_QOS, CONF_TOPIC
 from .discovery import MQTTDiscoveryPayload
 from .mixins import (
     MQTT_ENTITY_DEVICE_INFO_SCHEMA,
@@ -25,10 +26,17 @@ from .mixins import (
     send_discovery_done,
     update_device,
 )
-from .models import MqttValueTemplate, ReceiveMessage, ReceivePayloadType
+from .models import (
+    MqttValueTemplate,
+    MqttValueTemplateException,
+    ReceiveMessage,
+    ReceivePayloadType,
+)
 from .subscription import EntitySubscription
 from .util import get_mqtt_data, valid_subscribe_topic
 
+_LOGGER = logging.getLogger(__name__)
+
 LOG_NAME = "Tag"
 
 TAG = "tag"
@@ -138,7 +146,8 @@ class MQTTTagScanner(MqttDiscoveryDeviceUpdate):
         async def tag_scanned(msg: ReceiveMessage) -> None:
             try:
                 tag_id = str(self._value_template(msg.payload, "")).strip()
-            except TEMPLATE_ERRORS:
+            except MqttValueTemplateException as exc:
+                _LOGGER.warning(exc)
                 return
             if not tag_id:  # No output from template, ignore
                 return
diff --git a/tests/components/mqtt/test_init.py b/tests/components/mqtt/test_init.py
index 9fe394bd797..16fa06ccd27 100644
--- a/tests/components/mqtt/test_init.py
+++ b/tests/components/mqtt/test_init.py
@@ -19,6 +19,7 @@ from homeassistant.components.mqtt.mixins import MQTT_ENTITY_DEVICE_INFO_SCHEMA
 from homeassistant.components.mqtt.models import (
     MessageCallbackType,
     MqttCommandTemplateException,
+    MqttValueTemplateException,
     ReceiveMessage,
 )
 from homeassistant.config_entries import ConfigEntryDisabler, ConfigEntryState
@@ -433,37 +434,30 @@ async def test_value_template_value(hass: HomeAssistant) -> None:
         assert template_state_calls.call_count == 1
 
 
-async def test_value_template_fails(
-    hass: HomeAssistant, caplog: pytest.LogCaptureFixture
-) -> None:
+async def test_value_template_fails(hass: HomeAssistant) -> None:
     """Test the rendering of MQTT value template fails."""
-
-    # test rendering a value fails
     entity = MockEntity(entity_id="sensor.test")
     entity.hass = hass
     tpl = template.Template("{{ value_json.some_var * 2 }}")
     val_tpl = mqtt.MqttValueTemplate(tpl, hass=hass, entity=entity)
-    with pytest.raises(TypeError) as exc:
+    with pytest.raises(MqttValueTemplateException) as exc:
         val_tpl.async_render_with_possible_json_value('{"some_var": null }')
-    assert str(exc.value) == "unsupported operand type(s) for *: 'NoneType' and 'int'"
-    assert (
+    assert str(exc.value) == (
         "TypeError: unsupported operand type(s) for *: 'NoneType' and 'int' "
         "rendering template for entity 'sensor.test', "
-        "template: '{{ value_json.some_var * 2 }}'"
-    ) in caplog.text
-    caplog.clear()
-    with pytest.raises(TypeError) as exc:
+        "template: '{{ value_json.some_var * 2 }}' "
+        'and payload: {"some_var": null }'
+    )
+    with pytest.raises(MqttValueTemplateException) as exc:
         val_tpl.async_render_with_possible_json_value(
             '{"some_var": null }', default=100
         )
-    assert str(exc.value) == "unsupported operand type(s) for *: 'NoneType' and 'int'"
-    assert (
+    assert str(exc.value) == (
         "TypeError: unsupported operand type(s) for *: 'NoneType' and 'int' "
         "rendering template for entity 'sensor.test', "
         "template: '{{ value_json.some_var * 2 }}', default value: 100 and payload: "
         '{"some_var": null }'
-    ) in caplog.text
-    await hass.async_block_till_done()
+    )
 
 
 async def test_service_call_without_topic_does_not_publish(