Charlotte, Tennessee Property Taxes
The median property tax rate in Charlotte, TN is 0.65%, 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 $175,100, the typical annual property tax bill in Charlotte amounts to $1,160, which is below the national median of $2,690. Property taxes in Charlotte 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 Charlotte'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 Charlotte 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
Charlotte, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$1,138
Ownwell’s Charlotte Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Charlotte with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Charlotte to project your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more 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 Charlotte, Tennessee
Property taxes in Charlotte, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charlotte is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Charlotte set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charlotte 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 Charlotte's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37036 zip code has the highest median property tax rate of 0.65%, while the same 37036 zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Charlotte provides valuable insights into the varying tax landscape across Cheatham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charlotte Tax Rate
0.65%
Average Cheatham County Tax Rate
0.67%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charlotte, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37036 | 0.65% | 0.65% | 0.65% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Charlotte, Tennessee
In Charlotte, 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 Cheatham 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 Charlotte, 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 Charlotte helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Charlotte is $175,100. Homeowners in the 37036 zip code experience both the highest and lowest median tax bills at $1,160. The 25th percentile tax bill is $556, while the 75th percentile tax bill is $1,680, and the 90th percentile tax bill is $2,468.
Average Charlotte Assessed Value
$175,100
Average Cheatham County Assessed Value
$201,100
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charlotte, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37036 | $49,480 | $85,175 | $175,100 | $250,075 | $381,720 |
Source: Ownwell
Property Tax Bills Across Charlotte, Tennessee
In Charlotte, Cheatham County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. The assessed value is a percentage of the property's market value. Homeowners in Charlotte see an average property tax bill that can vary significantly. For instance, the 25th percentile tax bill is $556, while the 75th percentile reaches $1,680, and the 90th percentile can go up to $2,468. This variation is influenced by factors such as property size, location, and market conditions. Cheatham County's property tax rate plays a crucial role in determining the final tax bill. With the national median property tax rate at 0.99%, Charlotte's homeowners may find their tax obligations either higher or lower depending on specific local rates. These taxes fund essential public services, including schools, infrastructure, and emergency services, directly impacting the community's quality of life. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Charlotte Tax Bill
$1,160
Average Cheatham County Tax Bill
$1,378
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Charlotte, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37036 | $335 | $556 | $1,160 | $1,680 | $2,468 |
Source: Ownwell