Milledgeville, Tennessee Property Taxes
The median property tax rate in Milledgeville, TN is 0.39%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Milledgeville at $89,900, the typical annual property tax bill reaches $350, significantly below the national median of $2,690. Property taxes in Milledgeville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Milledgeville'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 Milledgeville 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
Milledgeville, 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 Milledgeville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milledgeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milledgeville 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 Milledgeville, Tennessee
Property taxes in Milledgeville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milledgeville is 0.39%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Milledgeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milledgeville 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 Milledgeville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the highest median property tax rate in Tennessee is found in Williamson County at 0.73%, while the lowest median tax rate is in Hancock County at 0.31%. Understanding how these cities compare with Milledgeville provides valuable insights into the varying tax landscape across McNairy County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Milledgeville Tax Rate
0.39%
Average Mcnairy County Tax Rate
0.39%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milledgeville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38359 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Milledgeville, Tennessee
In Milledgeville, 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 McNairy 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 Milledgeville, 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. For instance, in the zip code 38359, the median tax bill is $350. 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 Milledgeville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Milledgeville, Tennessee
Source: Ownwell
$73,550
$107,225
$140,900
Average Milledgeville Assessed Value
$89,900
Average Mcnairy County Assessed Value
$107,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Milledgeville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38359 | $32,720 | $53,800 | $89,900 | $133,150 | $190,560 |
Source: Ownwell
Property Tax Bills Across Milledgeville, Tennessee
In Milledgeville, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the McNairy County Assessor's office. The assessed value is a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to determine the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and market conditions. In Milledgeville, the median home price is $89,900. Homeowners typically see tax bills ranging from $228 at the 25th percentile to $730 at the 90th percentile. The highest median tax bill in the area is $350, found in the 38359 ZIP code. Property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these taxes are calculated can help homeowners budget effectively and anticipate potential changes in their tax obligations.
Average Milledgeville Tax Bill
$350
Average Mcnairy County Tax Bill
$471
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Milledgeville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38359 | $128 | $228 | $350 | $520 | $730 |
Source: Ownwell