Mc Ewen, Tennessee Property Taxes
The median property tax rate in Mc Ewen, TN is 0.59%, which is significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Mc Ewen, the typical annual property tax bill amounts to $1,317, well below the national median of $2,690. Property taxes in Mc Ewen are calculated based on the assessed value, which often falls below market value due to exemptions like the primary residence and agricultural exemptions. Understanding Mc Ewen'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 Ewen 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 Ewen, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$1,322
Ownwell’s Mc Ewen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mc Ewen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mc Ewen 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 Ewen, Tennessee
Property taxes in Mc Ewen, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mc Ewen is 0.59%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Mc Ewen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Ewen 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 Mc Ewen's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37101 zip code has both the highest and lowest median property tax rate of 0.59%. Understanding how these areas compare with Mc Ewen provides valuable insights into the varying tax landscape across Dickson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Ewen Tax Rate
0.59%
Average Dickson County Tax Rate
0.59%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Ewen, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37101 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Mc Ewen, Tennessee
In Mc Ewen, 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 Dickson 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. In Mc Ewen, 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 Mc Ewen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Mc Ewen are both $1317, specifically in the 37101 zip code.
Average Mc Ewen Assessed Value
$224,150
Average Dickson County Assessed Value
$180,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Ewen, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37101 | $150,360 | $179,700 | $224,150 | $267,800 | $295,700 |
Source: Ownwell
Property Tax Bills Across Mc Ewen, Tennessee
In Mc Ewen, TN, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The assessed value is a percentage of the market value, which forms the basis for calculating the tax bill. Homeowners in Mc Ewen can expect their tax bills to vary significantly, influenced by the assessed value of their property and the specific tax rate levied by Dickson County. For instance, the median home price in Mc Ewen is $224,150. Property tax bills in this area range from $1,056 at the 25th percentile to $1,738 at the 90th percentile. These figures indicate that while some homeowners pay relatively lower taxes, others might face higher bills based on their property's assessed value. Compared to the national median property tax rate of 0.99%, Mc Ewen's tax rates reflect the local economic conditions and funding requirements. This variability in tax bills directly impacts homeowners' financial planning, as higher assessed values and tax rates can lead to increased annual expenses.
Average Mc Ewen Tax Bill
$1,317
Average Dickson County Tax Bill
$1,201
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Ewen, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37101 | $883 | $1,056 | $1,317 | $1,573 | $1,738 |
Source: Ownwell