Macon, Tennessee Property Taxes
The median property tax rate in Macon, TN is 0.32%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Macon at $71,000, the typical annual property tax bill is $229, far below the national median of $2,690. Property taxes in Macon are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Macon's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Macon or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Macon, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Macon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Macon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Macon 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 Macon, Tennessee
Property taxes in Macon, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Macon is 0.64%, which is higher than the Tennessee state median of 0.56% but still below the U.S. national median of 0.99%. Local government entities within Macon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Macon 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 Macon's effective property tax rate to other counties in Tennessee and the national median. For comparison, the highest median property tax rate in Tennessee is found in Williamson County at 0.91%, while the lowest median tax rate is in Benton County at 0.31%. Understanding how these cities compare with Macon provides valuable insights into the varying tax landscape across Macon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Macon Tax Rate
0.32%
Average Fayette County Tax Rate
0.32%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Macon, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38048 | 0.32% | 0.32% | 0.32% | 0.32% | 0.32% |
Source: Ownwell
Property Tax Assessment Values Across Macon, Tennessee
In Macon, 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 Macon, 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 Macon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Macon are both $229, found in the zip code 38048.
Average Macon Assessed Value
$71,000
Average Fayette County Assessed Value
$164,200
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Macon, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38048 | $71,000 | $71,000 | $71,000 | $71,000 | $71,000 |
Source: Ownwell
Property Tax Bills Across Macon, Tennessee
In Macon, Tennessee, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by the local tax assessor and is a percentage of the property's market value. In this region, the median home price is $71,000. Property tax rates are applied to this assessed value to determine the annual tax bill. For homeowners in Macon, the property tax bill is relatively low compared to national averages. For instance, the tax bill at the 25th, 75th, and 90th percentiles are all $229, which is significantly below the national median property tax rate of 0.99%. This low tax burden can make homeownership more affordable, potentially increasing the attractiveness of the area for new buyers and investors. Factors such as local government budgets, public service funding needs, and school district requirements influence the property tax rate. Consequently, while the current rates are favorable, they are subject to change based on these factors.
Average Macon Tax Bill
$229
Average Fayette County Tax Bill
$616
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Macon, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38048 | $229 | $229 | $229 | $229 | $229 |
Source: Ownwell