Mc Donald, Tennessee Property Taxes
The median property tax rate in MC DONALD, TN is 0.45%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in MC DONALD at $141,300, the typical annual property tax bill reaches $639, significantly below the national median of $2,690. Property taxes in MC DONALD are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding MC DONALD'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 MC DONALD 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
Mc Donald, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$636
$590
Ownwell’s MC DONALD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC DONALD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC DONALD 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 Mc Donald, Tennessee
Property taxes in McDonald, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McDonald is 0.45%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within McDonald set these rates annually, and they can vary significantly across different neighborhoods. Each year, McDonald 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 McDonald's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37353 zip code has both the highest and lowest median property tax rate of 0.45%. Understanding how these cities compare with McDonald provides valuable insights into the varying tax landscape across Bradley County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Donald Tax Rate
0.45%
Average Bradley County Tax Rate
0.45%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Donald, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37353 | 0.44% | 0.45% | 0.45% | 0.45% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Mc Donald, Tennessee
In McDonald, 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 Bradley 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 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 McDonald helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in McDonald is $141,300, with tax bills ranging from $207 at the 25th percentile to $1,736 at the 90th percentile. The highest and lowest median tax bills are both $639 in zip code 37353.
Average Mc Donald Assessed Value
$141,300
Average Bradley County Assessed Value
$153,100
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Donald, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37353 | $17,300 | $45,875 | $141,300 | $249,175 | $381,650 |
Source: Ownwell
Property Tax Bills Across Mc Donald, Tennessee
In MC DONALD, Bradley County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in this region face a range of property tax bills, influenced by factors such as the property's assessed value and the local tax rate. For instance, the median home price in MC DONALD is $141,300. Tax bills can vary significantly, with the 25th percentile at $207, the 75th percentile at $1,138, and the 90th percentile reaching $1,736. Compared to the national median property tax rate of 0.99%, homeowners in MC DONALD experience a diverse range of tax burdens. The highest and lowest median tax bills in the area are both recorded at $639, indicating some level of consistency within specific zip codes. These variations in tax bills can impact homeowners' financial planning and overall affordability, making it essential for residents to understand their specific property tax obligations.
Average Mc Donald Tax Bill
$639
Average Bradley County Tax Bill
$797
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Donald, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37353 | $77 | $207 | $639 | $1,138 | $1,736 |
Source: Ownwell