Columbia, Tennessee Property Taxes
The median property tax rate in Columbia, TN is 0.68%, slightly higher than the state median of 0.64% but lower than the national median of 0.99%. With a median home value of $238,500 in Columbia, the typical annual property tax bill amounts to $1,519, which is below the national median of $2,690. Property taxes here are calculated based on the assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Navigating Columbia's property tax system, understanding available exemptions, and finding opportunities for reductions can lead to substantial annual savings. Whether you're a homeowner or a real estate investor in Columbia, a thorough understanding of the local property tax system is crucial for maximizing financial benefits.
Last Updated June 14, 2024
Columbia, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,622
Ownwell’s Columbia Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Columbia with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Columbia to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in more localized trends, you can find detailed neighborhood information further down the page. Your property’s assessed value is determined by the county for tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Columbia, Tennessee
Property taxes in Columbia, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Columbia is 0.68%, which is lower than the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Columbia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Columbia 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 Columbia's effective property tax rate to other areas in Maury County and the national median. For comparison, the 38474 zip code has the highest median property tax rate of 0.90%, while the 38482 zip code has the lowest median tax rate of 0.48%. Understanding how these cities compare with Columbia provides valuable insights into the varying tax landscape across Maury County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Columbia Tax Rate
0.68%
Average Maury County Tax Rate
0.66%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Columbia, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37091 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| 37174 | 0.48% | 0.48% | 0.48% | 0.57% | 0.63% |
| 38401 | 0.48% | 0.48% | 0.68% | 0.68% | 0.68% |
| 38451 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| 38474 | 0.48% | 0.90% | 0.90% | 0.90% | 0.90% |
| 38482 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Columbia, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Columbia, Tennessee. 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 Maury 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 Columbia, 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. For example, the highest median tax bill in Columbia is $1,526 in zip code 38401, while the lowest is $218 in zip code 38482. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Columbia Assessed Value
$238,500
Average Maury County Assessed Value
$247,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Columbia, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37091 | $62,470 | $74,575 | $94,750 | $114,925 | $127,030 |
| 37174 | $62,080 | $102,700 | $170,400 | $223,900 | $256,000 |
| 38401 | $96,200 | $171,100 | $239,700 | $330,000 | $456,880 |
| 38451 | $27,100 | $33,250 | $72,600 | $106,825 | $136,330 |
| 38474 | $17,060 | $18,500 | $26,700 | $40,000 | $74,340 |
| 38482 | $45,700 | $45,700 | $45,700 | $45,700 | $45,700 |
Source: Ownwell
Property Tax Bills Across Columbia, Tennessee
In Columbia, located in Maury County, TN, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. Homeowners in Columbia experience varying tax bills, influenced by factors such as property location, size, and improvements. The median home price in Columbia is $238,500. Tax bills range significantly, with the 25th percentile at $1,035 and the 75th percentile at $2,010. The 90th percentile sees tax bills as high as $2,606. The highest median tax bill in Columbia is $1,526 in the 38401 zip code, while the lowest is $218 in the 38482 zip code. Compared to the national median property tax rate of 0.99%, Columbia's property taxes can be relatively moderate, though they vary widely. This variability in property tax bills can significantly impact homeowners' annual expenses, making it crucial for them to understand how their taxes are calculated and what factors influence their final bill.
Average Columbia Tax Bill
$1,519
Average Maury County Tax Bill
$1,525
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Columbia, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37091 | $298 | $356 | $452 | $549 | $606 |
| 37174 | $348 | $523 | $814 | $1,070 | $1,223 |
| 38401 | $589 | $1,050 | $1,526 | $2,016 | $2,613 |
| 38451 | $130 | $159 | $347 | $510 | $651 |
| 38474 | $119 | $164 | $224 | $360 | $523 |
| 38482 | $218 | $218 | $218 | $218 | $218 |
Source: Ownwell