Cannon County, Tennessee Property Taxes
The median property tax rate in Cannon County is 0.62%, which is slightly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Cannon County at $129,400, the typical annual property tax bill is $846, considerably less than the national median of $2,690. Property taxes in Cannon County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Cannon County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Woodbury or another part of Cannon County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cannon County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$802
$744
Ownwell’s Cannon County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cannon County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Cannon County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Cannon County, Tennessee
Property taxes in Cannon County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Cannon County is 0.62%, which is higher than the U.S. national median of 0.99%. Local government entities within Cannon County set these rates annually, and they can vary significantly between different areas within the county. Each year, Cannon County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Woodbury has one of the higher property tax rates in Tennessee at 0.62%, while the city of Smithville boasts one of the lowest at 0.61%. Analyzing how Cannon County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Cannon County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cannon County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Auburntown | 0.61% | 0.61% | 0.62% | 0.62% | 0.62% |
| Bradyville | 0.61% | 0.61% | 0.61% | 0.62% | 0.62% |
| Liberty | 0.61% | 0.61% | 0.61% | 0.62% | 0.62% |
| Mcminnville | 0.61% | 0.61% | 0.61% | 0.62% | 0.62% |
| Milton | 0.61% | 0.61% | 0.62% | 0.62% | 0.62% |
| Morrison | 0.61% | 0.61% | 0.62% | 0.62% | 0.62% |
| Readyville | 0.61% | 0.61% | 0.61% | 0.62% | 0.62% |
| Smithville | 0.61% | 0.61% | 0.61% | 0.62% | 0.62% |
| Woodbury | 0.61% | 0.61% | 0.62% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Cannon County, Tennessee
In Cannon County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Cannon County Appraisal District. The assessed value, however, 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 Cannon County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, in Cannon County, the highest median tax bill is in Milton at $1,081, while Liberty sees the lowest at $602. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Cannon County, Tennessee
Source: Ownwell
$99,850
$137,825
$175,800
Average Cannon County Assessed Value
$129,400
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cannon County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Auburntown | $55,200 | $85,200 | $137,400 | $227,475 | $354,450 |
| Bradyville | $54,690 | $81,300 | $126,900 | $189,425 | $273,490 |
| Liberty | $35,850 | $59,200 | $99,850 | $152,650 | $214,900 |
| Mcminnville | $44,950 | $76,925 | $115,900 | $171,350 | $239,450 |
| Milton | $59,640 | $108,400 | $175,800 | $319,450 | $418,520 |
| Morrison | $32,900 | $59,850 | $119,200 | $224,000 | $337,000 |
| Readyville | $62,300 | $93,700 | $159,900 | $244,750 | $347,900 |
| Smithville | $70,270 | $114,800 | $160,900 | $238,825 | $409,950 |
| Woodbury | $52,740 | $82,000 | $129,000 | $192,100 | $270,580 |
Source: Ownwell
Property Tax Bills Across Cannon County, Tennessee
In Cannon County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate is then applied to this assessed value to determine the final tax bill. Various factors influence this calculation, including the market value of the property, which in Cannon County has a median home price of $129,400. Homeowners in the county can expect tax bills to vary significantly. For instance, the 25th percentile tax bill is around $545, while the 75th percentile reaches approximately $1,266, and the 90th percentile can go up to $1,829. Comparatively, the highest median tax bill in the county is $1,081 in Milton, while the lowest is $602 in Liberty. These figures highlight the range of property tax liabilities homeowners might face. Understanding these factors helps homeowners anticipate their property tax bills and manage their finances accordingly, especially given that the national median property tax rate stands at 0.99%.
Average Cannon County Tax Bill
$846
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Cannon County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Auburntown | $340 | $524 | $845 | $1,395 | $2,180 |
| Bradyville | $338 | $502 | $780 | $1,165 | $1,670 |
| Liberty | $219 | $362 | $602 | $932 | $1,324 |
| Mcminnville | $276 | $473 | $712 | $1,054 | $1,473 |
| Milton | $366 | $667 | $1,081 | $1,965 | $2,574 |
| Morrison | $202 | $368 | $733 | $1,378 | $2,073 |
| Readyville | $383 | $576 | $990 | $1,506 | $2,157 |
| Smithville | $432 | $706 | $990 | $1,468 | $2,521 |
| Woodbury | $365 | $569 | $867 | $1,258 | $1,784 |
Source: Ownwell
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