Milledgeville, Tennessee Property Taxes
The median property tax rate in Milledgeville, TN is 0.62%, notably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Milledgeville at $62,900, the typical annual property tax bill amounts to $391, significantly below the national median of $2,690. Property taxes in Milledgeville are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Milledgeville'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 Milledgeville 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
Milledgeville, 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 Milledgeville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Milledgeville with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Milledgeville to provide an estimate of your property tax bill. This valuable tool offers insight into potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Milledgeville, Tennessee
Property taxes in Milledgeville, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milledgeville is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Milledgeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milledgeville 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 Milledgeville's effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 38359 has the same median property tax rate of 0.62%. Understanding how these areas compare with Milledgeville provides valuable insights into the varying tax landscape across Chester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Milledgeville Tax Rate
0.62%
Average Chester County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milledgeville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38359 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Milledgeville, Tennessee
In Milledgeville, 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 local 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 Milledgeville, 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 Milledgeville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 38359 has both the highest and lowest median tax bill at $391.00.
Property Tax Assessment Values Across Milledgeville, Tennessee
Source: Ownwell
$62,900
$102,850
$142,800
Average Milledgeville Assessed Value
$62,900
Average Chester County Assessed Value
$125,450
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Milledgeville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38359 | $50,100 | $53,100 | $62,900 | $96,200 | $352,760 |
Source: Ownwell
Property Tax Bills Across Milledgeville, Tennessee
Property tax bills in Milledgeville, Chester County, TN, are calculated based on the assessed value of a property, which is a percentage of its market value. Homeowners in this area typically see a median home price of $62,900. The tax rate is applied to the assessed value to determine the tax bill. Several factors influence the assessed value, including property size, location, and condition. For homeowners, the impact of property taxes can vary significantly. The 25th percentile tax bill is around $330, while the 75th percentile reaches $598, and the 90th percentile can be as high as $2,193. These figures indicate a wide range of possible tax bills, reflecting differences in property values and specific assessments. Compared to the national median property tax rate of 0.99%, Milledgeville's property tax bills are relatively moderate, making it an appealing location for homeowners looking for lower property tax obligations.
Average Milledgeville Tax Bill
$391
Average Chester County Tax Bill
$763
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Milledgeville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38359 | $311 | $330 | $391 | $598 | $2,193 |
Source: Ownwell