Mount Juliet, Davidson County, Tennessee Property Taxes
The median property tax rate in Mount Juliet, TN is 0.95%, slightly below the national median of 0.99% but significantly higher than the Tennessee state median of 0.64%. With the median home value in Mount Juliet at $386,350, the typical annual property tax bill amounts to $3,659, well above the national median of $2,690. Property taxes in Mount Juliet are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the 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 the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Juliet, Davidson County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$3,670
$3,406
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, Davidson County, 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 0.95%, 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 counties in Tennessee and the national median. For comparison, the 37122 zip code has both the highest and lowest median property tax rate of 0.95%. Understanding how these cities compare with Mount Juliet provides valuable insights into the varying tax landscape across Davidson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Juliet Tax Rate
0.95%
Average Davidson County Tax Rate
0.95%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Juliet, Davidson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37122 | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Mount Juliet, Davidson County, 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 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 Mount Juliet, 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. Mount Juliet's median home price is $386,350, with property tax bills ranging from $3,318 at the 25th percentile to $4,574 at the 90th percentile. The zip code 37122 has both the highest and lowest median tax bill at $3,659. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Mount Juliet, Davidson County, Tennessee
Source: Ownwell
$191,850
$462,575
$733,300
Average Mount Juliet Assessed Value
$386,350
Average Davidson County Assessed Value
$291,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Juliet, Davidson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37122 | $268,450 | $350,400 | $386,350 | $428,300 | $482,950 |
Source: Ownwell
Property Tax Bills Across Mount Juliet, Davidson County, Tennessee
In Mount Juliet, TN, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. The tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $386,350, homeowners can anticipate varying tax bills depending on specific factors like property size and location. The tax bill at the 25th percentile is around $3,318, while at the 75th percentile, it rises to approximately $4,056. For those at the 90th percentile, the tax bill can reach up to $4,574. These figures illustrate how property taxes can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. In Mount Juliet, the highest and lowest median tax bills are both reported at $3,659 in the 37122 zip code, indicating a relatively consistent tax burden across the area. Homeowners must consider these taxes as a vital part of their annual financial planning.
Average Mount Juliet Tax Bill
$3,659
Average Davidson County Tax Bill
$2,764
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Juliet, Davidson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37122 | $2,542 | $3,318 | $3,659 | $4,056 | $4,574 |
Source: Ownwell