Spring Hill, Tennessee Property Taxes
The median property tax rate in Spring Hill, TN is 0.18%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Spring Hill at $357,750, the typical annual property tax bill is $667, well below the national median of $2,690. Property taxes in Spring Hill are calculated based on the assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Spring Hill's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Spring Hill or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Spring Hill, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.18%
Estimate Property Tax Bill
$644
Ownwell’s SPRING HILL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SPRING HILL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SPRING HILL 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 Spring Hill, Tennessee
Property taxes in Spring Hill, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spring Hill is 0.71%, significantly lower than both the Tennessee state median of 0.64% and the U.S. national median of 0.99%. Local government entities within Spring Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spring Hill 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 Spring Hill's effective property tax rate to other counties in Tennessee and the national median. For comparison, 37027 in Williamson County has the highest median property tax rate of 0.93%, while 37064 has the lowest median tax rate of 0.59%. Understanding how these cities compare with Spring Hill provides valuable insights into the varying tax landscape across Williamson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spring Hill Tax Rate
0.18%
Average Williamson County Tax Rate
0.54%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spring Hill, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37174 | 0.18% | 0.18% | 0.18% | 0.18% | 0.18% |
Source: Ownwell
Property Tax Assessment Values Across Spring Hill, Tennessee
In Spring Hill, 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 Williamson 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 Spring Hill, 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 Spring Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Spring Hill, the median tax bill ranges from $542 at the 25th percentile to $990 at the 90th percentile, with the zip code 37174 having the highest and lowest median tax bills of $667.
Average Spring Hill Assessed Value
$357,750
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 Spring Hill, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37174 | $249,500 | $290,800 | $357,750 | $456,125 | $530,510 |
Source: Ownwell
Property Tax Bills Across Spring Hill, Tennessee
In Spring Hill, located in Williamson County, TN, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in Spring Hill experience a median property tax bill of $667, which is lower than the national median property tax rate of 0.99%. The assessed value is influenced by factors such as the home's location, size, and age. For instance, the median home price in Spring Hill is $357,750. Property tax bills can vary significantly, with the 25th percentile at $542 and the 75th percentile at $849. At the 90th percentile, homeowners might see tax bills as high as $990. These variations depend on the specific characteristics and assessed value of each property. Understanding how these factors affect your tax bill can help homeowners budget accordingly and potentially explore opportunities for tax exemptions or appeals to reduce their financial burden.
Average Spring Hill Tax Bill
$667
Average Williamson County Tax Bill
$2,616
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Spring Hill, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37174 | $466 | $542 | $667 | $849 | $990 |
Source: Ownwell