Hixson, Tennessee Property Taxes
The median property tax rate in Hixson, TN is 0.66%, slightly higher than the Tennessee state median of 0.64% but lower than the national median of 0.99%. With a median home value of $124,000 in Hixson, the typical annual property tax bill comes to $815, which is significantly below the national median of $2,690. Property taxes in Hixson are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Hixson’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 Hixson 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
Hixson, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$818
Ownwell’s Hixson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hixson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hixson 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 Hixson, Tennessee
Property taxes in Hixson, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hixson is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Hixson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hixson 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 Hixson's effective property tax rate to the national median. For comparison, the zip code 37343 has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Hixson provides valuable insights into the varying tax landscape across Anderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hixson Tax Rate
0.66%
Average Anderson County Tax Rate
0.87%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hixson, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37343 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Hixson, Tennessee
In Hixson, 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 Anderson 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 Hixson, 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 Hixson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 37343 has both the highest and lowest median tax bills at $815.
Average Hixson Assessed Value
$124,000
Average Anderson County Assessed Value
$128,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hixson, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37343 | $124,000 | $124,000 | $124,000 | $124,000 | $124,000 |
Source: Ownwell
Property Tax Bills Across Hixson, Tennessee
In Hixson, TN, property tax bills are calculated based on the assessed value of the property, which is a fraction of the market value. For homeowners, the assessed value is typically set at a percentage of the market value determined by the local assessor's office. The tax rate, also known as the millage rate, is then applied to this assessed value to calculate the annual property tax bill. In Hixson, the median home price is $124,000, and the property tax bill is consistently $815 across various percentiles, including the 25th, 75th, and 90th. This uniformity suggests a stable tax rate within the area. When compared to the national median property tax rate of 0.99%, homeowners in Hixson benefit from relatively lower property tax bills. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting community quality and property values. Therefore, understanding how these taxes are calculated helps homeowners manage their financial planning and contributes to the overall well-being of the community.
Average Hixson Tax Bill
$815
Average Anderson County Tax Bill
$1,127
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Hixson, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37343 | $815 | $815 | $815 | $815 | $815 |
Source: Ownwell