Mount Juliet, Tennessee Property Taxes
The median property tax rate in Mount Juliet, TN is 0.50%, notably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $338,600 in Mount Juliet, the typical annual property tax bill is around $1,672, which is significantly below the national median of $2,690. Property taxes in Mount Juliet are calculated based on the assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mount Juliet'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 Mount Juliet or another part of Wilson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Juliet, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$1,693
Ownwell’s Mount Juliet Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Juliet with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Juliet 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 Mount Juliet, Tennessee
Property taxes in Mount Juliet, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Juliet is 0.50%, which is lower than the U.S. national median of 0.99%. Local government entities within Mount Juliet set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Juliet 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 Mount Juliet's effective property tax rate to other cities in Wilson County and the national median. For comparison, the zip code 37122 has both the highest and lowest median property tax rate of 0.50%. Understanding how these cities compare with Mount Juliet provides valuable insights into the varying tax landscape across Wilson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Juliet Tax Rate
0.50%
Average Wilson County Tax Rate
0.50%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Juliet, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37122 | 0.48% | 0.48% | 0.50% | 0.50% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Mount Juliet, Tennessee
In Mount Juliet, 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 Wilson 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. Assessment notices in Mount Juliet 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 Mount Juliet helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Interestingly, the highest and lowest median tax bills in the area are both $1,672, found in the 37122 zip code.
Property Tax Assessment Values Across Mount Juliet, Tennessee
Source: Ownwell
$116,700
$445,300
$773,900
Average Mount Juliet Assessed Value
$338,600
Average Wilson County Assessed Value
$285,400
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Juliet, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37122 | $176,200 | $252,825 | $338,600 | $434,875 | $531,030 |
Source: Ownwell
Property Tax Bills Across Mount Juliet, Tennessee
In Mount Juliet, located in Wilson County, TN, property tax bills are calculated based on the assessed value of a home. The assessment process involves determining a percentage of the property's market value, which is then multiplied by the local tax rate. For example, with a median home price of $338,600, the assessed value forms the basis for the tax computation. The tax bill can vary significantly, with the 25th percentile at $1,234 and the 75th percentile reaching $2,155. At the higher end, the 90th percentile tax bill is $2,622. These figures highlight the range of possible tax bills, influenced by factors such as property size, location, and improvements. Homeowners in Mount Juliet can expect their property taxes to impact their annual budgets, with the median tax bill in the area being $1,672. This is relatively lower than the national median property tax rate of 0.99%, making Mount Juliet an attractive option for those looking to manage their property tax expenses efficiently.
Average Mount Juliet Tax Bill
$1,672
Average Wilson County Tax Bill
$1,525
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Juliet, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37122 | $852 | $1,234 | $1,672 | $2,155 | $2,622 |
Source: Ownwell