Signal Mountain, Tennessee Property Taxes
The median property tax rate in Signal Mountain, TN is 0.56%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Signal Mountain at $356,800, the typical annual property tax bill amounts to $2,037, which is below the national median of $2,690. Property taxes in Signal Mountain are calculated based on the tax assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Signal Mountain'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 Signal Mountain or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Signal Mountain, 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 Signal Mountain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Signal Mountain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Signal Mountain 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 Signal Mountain, Tennessee
Property taxes in Signal Mountain, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Signal Mountain is 0.56%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Signal Mountain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Signal Mountain 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 Signal Mountain's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37377 zip code has the highest median property tax rate of 0.56%, while the 37377 zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Signal Mountain provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Signal Mountain Tax Rate
0.56%
Average Hamilton County Tax Rate
0.56%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Signal Mountain, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37377 | 0.56% | 0.56% | 0.56% | 0.56% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Signal Mountain, Tennessee
In Signal Mountain, 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 Hamilton County Assessor of Property 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 Signal Mountain, 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. 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 Signal Mountain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Signal Mountain is $356,800. The tax bill at the 25th percentile is $1,451, while the 75th percentile sees a tax bill of $2,742. The 90th percentile tax bill reaches $3,807. Interestingly, the zip code 37377 has both the highest and lowest median tax bill of $2,037.
Property Tax Assessment Values Across Signal Mountain, Tennessee
Source: Ownwell
$44,900
$299,425
$553,950
Average Signal Mountain Assessed Value
$356,800
Average Hamilton County Assessed Value
$194,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Signal Mountain, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37377 | $171,000 | $251,500 | $356,800 | $483,275 | $654,200 |
Source: Ownwell
Property Tax Bills Across Signal Mountain, Tennessee
In Signal Mountain, Hamilton County, TN, property tax bills are determined by assessing the value of a home and applying the local tax rate. The median home price in Signal Mountain is $356,800. The assessed value is a percentage of the market value set by local assessors. This value is then multiplied by the tax rate to calculate the annual tax bill. Homeowners in Signal Mountain experience varying tax bills based on their property’s assessed value. For instance, the 25th percentile tax bill is $1,451, while those in the 75th percentile pay around $2,742. The 90th percentile sees tax bills as high as $3,807. The highest median tax bill recorded in the area is $2,037. Compared to the national median property tax rate of 0.99%, Signal Mountain's tax rates reflect the local economic conditions and funding requirements for public services. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Signal Mountain Tax Bill
$2,037
Average Hamilton County Tax Bill
$1,209
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Signal Mountain, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37377 | $996 | $1,451 | $2,037 | $2,742 | $3,807 |
Source: Ownwell