Calhoun, Tennessee Property Taxes
The median property tax rate in Calhoun, TN is 0.63%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $65,100 in Calhoun, the typical annual property tax bill amounts to $428, significantly less than the national median of $2,690. Property taxes in Calhoun are calculated based on the tax assessed value, often below market value due to exemptions like primary residence and agricultural exemptions. Understanding Calhoun'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 Calhoun or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Calhoun, 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 Calhoun Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Calhoun with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Calhoun 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 Calhoun, Tennessee
Property taxes in Calhoun, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Calhoun is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Calhoun set these rates annually, and they can vary across different neighborhoods. Each year, Calhoun 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 Calhoun's effective property tax rate to other areas in Polk County and the national median. For comparison, the highest and lowest median property tax rates in Polk County both stand at 0.63%, which are found in the zip code 37309. Understanding how these rates compare with Calhoun provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Calhoun Tax Rate
0.63%
Average Polk County Tax Rate
0.63%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Calhoun, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37309 | 0.63% | 0.63% | 0.63% | 0.63% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Calhoun, Tennessee
In Calhoun, 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 Polk 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 Calhoun, 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 Calhoun helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Calhoun both stand at $428, with the corresponding zip code being 37309.
Average Calhoun Assessed Value
$65,100
Average Polk County Assessed Value
$48,850
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Calhoun, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37309 | $20,200 | $24,350 | $65,100 | $146,925 | $249,300 |
Source: Ownwell
Property Tax Bills Across Calhoun, Tennessee
In Calhoun, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. Homeowners in Polk County can expect their tax bills to vary significantly depending on the value of their property. For instance, the median home price in Calhoun is $65,100. The tax bill at the 25th percentile is $154, while at the 75th percentile, it rises to $949. At the 90th percentile, homeowners may see tax bills as high as $1,577. The highest and lowest median tax bills in the area both stand at $428, specifically in the 37309 zip code. These figures reflect the range of property values and the corresponding tax obligations. Compared to the national median property tax rate of 0.99%, Calhoun's tax rates can be considered relatively moderate. Understanding these factors helps homeowners anticipate their annual tax responsibilities and manage their finances accordingly.
Average Calhoun Tax Bill
$428
Average Polk County Tax Bill
$310
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Calhoun, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37309 | $126 | $154 | $428 | $949 | $1,577 |
Source: Ownwell