Murfreesboro, Tennessee Property Taxes
The median property tax rate in Murfreesboro, TN is 0.68%, which is lower than the national median of 0.99% but slightly higher than the Tennessee state median of 0.64%. With a median home value in Murfreesboro of $227,200, the typical annual property tax bill amounts to $1,545, significantly below the national median of $2,690. Property taxes in Murfreesboro are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Murfreesboro'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 Murfreesboro or another part of the city, a comprehensive understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Murfreesboro, 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 Murfreesboro Property Tax Bill Calculator assists homeowners, real estate investors, and prospective buyers in estimating their annual property taxes in Murfreesboro with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Murfreesboro to project your property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Murfreesboro, Tennessee
Property taxes in Murfreesboro, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Murfreesboro is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Murfreesboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Murfreesboro 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. For comparison, the zip code 37129 in Murfreesboro has a median property tax rate of 0.68%, illustrating a consistent tax landscape across the city. Understanding how these rates compare with the national median provides valuable insights into the varying tax landscape across Rutherford County, helping homeowners gain a clearer picture of their property tax obligations relative to other areas.
Average Murfreesboro Tax Rate
0.68%
Average Williamson County Tax Rate
0.54%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Murfreesboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37129 | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Murfreesboro, Tennessee
In Murfreesboro, 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 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. Assessment notices in Murfreesboro 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 Murfreesboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 37129, both valued at $1,545.
Property Tax Assessment Values Across Murfreesboro, Tennessee
Source: Ownwell
$161,000
$549,800
$938,600
Average Murfreesboro Assessed Value
$227,200
Average Williamson County Assessed Value
$492,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Murfreesboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37129 | $227,200 | $227,200 | $227,200 | $227,200 | $227,200 |
Source: Ownwell
Property Tax Bills Across Murfreesboro, Tennessee
In Murfreesboro, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the home's size, age, location, and any improvements made. For homeowners in Murfreesboro, the median home price is $227,200. The property tax rate in this area is reflective of Williamson County's standards. Consequently, the median property tax bill stands at $1,545. This figure is consistent across various percentiles, indicating a stable tax environment. Compared to the national median property tax rate of 0.99%, Murfreesboro offers a relatively moderate tax burden for homeowners. Understanding these factors and how they interact can help homeowners better anticipate their annual tax obligations and plan accordingly.
Average Murfreesboro Tax Bill
$1,545
Average Williamson County Tax Bill
$2,616
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Murfreesboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37129 | $1,545 | $1,545 | $1,545 | $1,545 | $1,545 |
Source: Ownwell