Cedar Grove, Tennessee Property Taxes
The median property tax rate in Cedar Grove, TN is 0.66%, slightly above the state median of 0.64% but below the national median of 0.99%. With a median home value of $74,500 in Cedar Grove, the typical annual property tax bill is $492, which is significantly lower than the national median of $2,690. Property taxes in Cedar Grove are calculated based on the tax assessed value, which is often less than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Cedar Grove'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 Cedar Grove or another part of Carroll County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cedar Grove, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$492
Ownwell’s Cedar Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cedar Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cedar Grove 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 Cedar Grove, Tennessee
Property taxes in Cedar Grove, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cedar Grove is 0.66%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Cedar Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedar Grove 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 Cedar Grove's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 38321 has both the highest and lowest median property tax rate of 0.66%. Understanding how these areas compare with Cedar Grove provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cedar Grove Tax Rate
0.66%
Average Carroll County Tax Rate
0.66%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedar Grove, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38321 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Cedar Grove, Tennessee
In Cedar Grove, 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 Carroll 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 Cedar Grove, 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. Cedar Grove’s median home price is $74,500, with tax bills ranging from $246 at the 25th percentile to $1,591 at the 90th percentile. The highest and lowest median tax bills are both found in the 38321 zip code, each at $492. 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 Cedar Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cedar Grove Assessed Value
$74,500
Average Carroll County Assessed Value
$76,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cedar Grove, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38321 | $21,520 | $37,700 | $74,500 | $139,800 | $239,660 |
Source: Ownwell
Property Tax Bills Across Cedar Grove, Tennessee
In Cedar Grove, Carroll County, TN, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Homeowners in Cedar Grove face a median property tax rate of 0.99%, aligning with the national median. For a property with a median home price of $74,500, the tax bill can vary significantly. For instance, at the 25th percentile, homeowners might pay around $246, whereas at the 75th percentile, the tax bill could rise to $925. Those at the 90th percentile may see tax bills as high as $1,591. The highest and lowest median tax bills in the area are both $492, indicating some uniformity in certain parts of the city. These property tax bills influence homeowners by impacting their annual expenses and potentially affecting decisions related to property improvements, sales, or purchases. Understanding these factors is crucial for homeowners to budget effectively and make informed financial decisions.
Average Cedar Grove Tax Bill
$492
Average Carroll County Tax Bill
$574
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedar Grove, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38321 | $142 | $246 | $492 | $925 | $1,591 |
Source: Ownwell