Mc Lemoresville, Tennessee Property Taxes
The median property tax rate in McLemoresville, TN is 0.83%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With a median home value of $70,000 in McLemoresville, the typical annual property tax bill amounts to $583, significantly below the national median of $2,690. Property taxes in McLemoresville are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding McLemoresville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of McLemoresville or another part of the city, grasping the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Lemoresville, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s MC LEMORESVILLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC LEMORESVILLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC LEMORESVILLE 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 Mc Lemoresville, Tennessee
Property taxes in Mc Lemoresville, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mc Lemoresville is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Mc Lemoresville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Lemoresville 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 Mc Lemoresville's effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 38235 has the same median property tax rate of 0.83%. Understanding how these areas compare with Mc Lemoresville 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 Mc Lemoresville Tax Rate
0.83%
Average Carroll County Tax Rate
0.66%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Lemoresville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38235 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Mc Lemoresville, Tennessee
In MC LEMORESVILLE, 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 local 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 MC LEMORESVILLE, 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. The median home price in MC LEMORESVILLE is $70,000, with annual property tax bills ranging from $401 at the 25th percentile to $1,085 at the 90th percentile. The zip code 38235 has both the highest and lowest median tax bill at $583. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Mc Lemoresville, Tennessee
Source: Ownwell
$58,400
$106,700
$155,000
Average Mc Lemoresville Assessed Value
$70,000
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 Mc Lemoresville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38235 | $45,720 | $48,150 | $70,000 | $96,800 | $130,420 |
Source: Ownwell
Property Tax Bills Across Mc Lemoresville, Tennessee
In Mc Lemoresville, Carroll County, TN, property tax bills are determined by assessing the value of a home and applying the local tax rate to that assessed value. The median home price in Mc Lemoresville is $70,000. Property taxes in this city are relatively low compared to the national median property tax rate of 0.99%. The 25th percentile tax bill in Mc Lemoresville is $401, while the 75th percentile tax bill is $806, and the 90th percentile reaches $1085. These figures indicate that most homeowners in the area pay a modest amount in property taxes, with the highest and lowest median tax bills both recorded at $583 in the 38235 zip code. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners benefit from understanding these factors as they can significantly impact their annual property tax obligations.
Average Mc Lemoresville Tax Bill
$583
Average Carroll County Tax Bill
$574
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Lemoresville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38235 | $381 | $401 | $583 | $806 | $1,085 |
Source: Ownwell