Signal Mountain, Tennessee Property Taxes
The median property tax rate in Signal Mountain, TN is 0.77%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With the median home value in Signal Mountain at $139,800, the typical annual property tax bill amounts to $1,057, falling below the national median of $2,690. Property taxes in Signal Mountain are calculated based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Gaining a thorough understanding of Signal Mountain's property tax system, exploring available exemptions, and finding opportunities for reductions can result in substantial annual savings. Whether you're residing in Signal Mountain or investing in the area, familiarizing yourself with the local property tax system will be advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Signal Mountain, 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 Signal Mountain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Signal Mountain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Signal Mountain 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 Signal Mountain, Tennessee
Property taxes in Signal Mountain, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Signal Mountain is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Signal Mountain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Signal Mountain 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. Understanding how these rates compare with other areas provides valuable insights into the varying tax landscape across Sequatchie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Signal Mountain Tax Rate
0.77%
Average Sequatchie County Tax Rate
0.80%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Signal Mountain, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37377 | 0.70% | 0.73% | 0.77% | 0.83% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Signal Mountain, Tennessee
In Signal Mountain, 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 Signal Mountain, 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 Signal Mountain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $139,800, with tax bills ranging from $627 at the 25th percentile to $3,353 at the 90th percentile. The zip code 37377 has the highest and lowest median tax bill of $1,057.
Property Tax Assessment Values Across Signal Mountain, Tennessee
Source: Ownwell
$35,700
$148,600
$261,500
Average Signal Mountain Assessed Value
$139,800
Average Sequatchie County Assessed Value
$109,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Signal Mountain, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37377 | $46,400 | $79,800 | $139,800 | $278,400 | $414,800 |
Source: Ownwell
Property Tax Bills Across Signal Mountain, Tennessee
In Signal Mountain, property tax bills are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to calculate the tax bill. For example, with a median home price of $139,800, homeowners in Signal Mountain can expect their property tax bills to vary significantly. The tax bill at the 25th percentile is $627, while at the 75th percentile, it rises to $2,191, and at the 90th percentile, it reaches $3,353. These variations are influenced by factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Signal Mountain's tax rates reflect the local economic and regulatory environment, impacting homeowners' annual financial obligations. Understanding these factors can help homeowners better anticipate their tax liabilities and plan their finances accordingly.
Average Signal Mountain Tax Bill
$1,057
Average Sequatchie County Tax Bill
$939
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Signal Mountain, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37377 | $365 | $627 | $1,057 | $2,191 | $3,353 |
Source: Ownwell