Ashland City, Tennessee Property Taxes
The median property tax rate in Ashland City, TN is 0.75%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With the median home value in Ashland City at $221,800, the typical annual property tax bill amounts to $1,503, which is below the national median of $2,690. Property taxes in Ashland City are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Ashland City'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 Ashland City 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
Ashland City, 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 Ashland City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ashland City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ashland City 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 Ashland City, Tennessee
Property taxes in Ashland City, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ashland City is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Ashland City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ashland City 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 Ashland City's effective property tax rate to other areas in Montgomery County and the national median. For comparison, the 37015 zip code has both the highest and lowest median property tax rate of 0.75%. Understanding how these areas compare with Ashland City provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ashland City Tax Rate
0.75%
Average Montgomery County Tax Rate
1.05%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ashland City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37015 | 0.51% | 0.75% | 0.75% | 0.75% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Ashland City, Tennessee
In Ashland City, 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 Ashland City, 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 Ashland City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 37015 has both the highest and lowest median tax bill at $1,503, reflecting the city's uniform tax landscape.
Property Tax Assessment Values Across Ashland City, Tennessee
Source: Ownwell
$134,500
$308,700
$482,900
Average Ashland City Assessed Value
$221,800
Average Montgomery County Assessed Value
$172,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ashland City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37015 | $80,000 | $116,700 | $221,800 | $374,600 | $534,598 |
Source: Ownwell
Property Tax Bills Across Ashland City, Tennessee
Property tax bills in Ashland City, Montgomery County, TN, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $221,800, homeowners in Ashland City can expect their tax bills to vary significantly. At the lower end, the 25th percentile tax bill is approximately $872, while the 75th percentile tax bill reaches around $2,709. For those at the higher end, the 90th percentile tax bill can be as high as $3,916. These property taxes impact homeowners by influencing their overall housing costs and potentially affecting their ability to afford their homes. Compared to the national median property tax rate of 0.99%, Ashland City's tax rates can result in a wide range of tax bills, emphasizing the importance of understanding local tax policies and their implications on personal finances.
Average Ashland City Tax Bill
$1,503
Average Montgomery County Tax Bill
$1,610
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Ashland City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37015 | $583 | $872 | $1,503 | $2,709 | $3,916 |
Source: Ownwell