Clarksville, Tennessee Property Taxes
The median property tax rate in Clarksville, TN is 0.67%, 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 $183,500 in Clarksville, the typical annual property tax bill is $1,234, which is below the national median of $2,690. Property taxes in Clarksville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Clarksville'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 Clarksville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clarksville, 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 Clarksville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarksville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarksville 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 Clarksville, Tennessee
Property taxes in Clarksville, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clarksville is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within Clarksville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarksville 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 Clarksville's effective property tax rate to other areas in Tennessee and the national median. For comparison, the 37043 zip code has the highest median property tax rate of 0.67%, while the 37040 zip code has the lowest median tax rate of 0.67%. Understanding how these areas compare with Clarksville 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 Clarksville Tax Rate
0.67%
Average Cheatham County Tax Rate
0.67%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarksville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37040 | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
| 37043 | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Clarksville, Tennessee
In Clarksville, 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 Clarksville, 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. The median home price here is $183,500, with tax bills ranging from $938 at the 25th percentile to $2,372 at the 90th percentile. The zip code with the highest median tax bill is 37043 at $1,239, while the lowest is 37040 at $1,178. 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 Clarksville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Clarksville Assessed Value
$183,500
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 Clarksville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37040 | $175,100 | $175,100 | $175,100 | $175,100 | $175,100 |
| 37043 | $114,240 | $139,200 | $184,200 | $256,300 | $353,580 |
Source: Ownwell
Property Tax Bills Across Clarksville, Tennessee
In Clarksville, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value, and this value is then multiplied by the tax rate set by the local government. For instance, with a median home price of $183,500, the property tax bill can vary significantly. Factors such as the property's location, size, and condition play a crucial role in determining its assessed value. In Clarksville, the 25th percentile tax bill is around $938, while the 75th percentile tax bill reaches approximately $1,724, and the 90th percentile tax bill can go up to $2,372. Comparatively, the highest median tax bill in the area is $1,239 in the 37043 zip code, while the lowest is $1,178 in the 37040 zip code. These variations affect homeowners differently, influencing their annual financial planning and potentially impacting their decisions on property investments.
Average Clarksville Tax Bill
$1,234
Average Cheatham County Tax Bill
$1,378
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarksville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37040 | $1,178 | $1,178 | $1,178 | $1,178 | $1,178 |
| 37043 | $769 | $937 | $1,239 | $1,725 | $2,380 |
Source: Ownwell