Moscow, Tennessee Property Taxes
The median property tax rate in Moscow, Tennessee 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 Moscow at $76,200, the typical annual property tax bill is $287, far below the national median of $2,690. Property taxes in Moscow are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Moscow'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 Moscow 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
Moscow, 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 Moscow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moscow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moscow 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 Moscow, Tennessee
Property taxes in Moscow, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moscow is 0.32%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Moscow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moscow 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 Moscow's effective property tax rate to other counties in Tennessee and the national median. For comparison, the highest median property tax rate in the region is found in ZIP code 37013 with a rate of 1.23%, while ZIP code 38501 has the lowest median tax rate of 0.21%. Understanding how these cities compare with Moscow provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moscow 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 Moscow, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38057 | 0.32% | 0.32% | 0.32% | 0.32% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Moscow, Tennessee
In Moscow, 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 Fayette 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 in Moscow 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 Moscow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 38057 has the highest and lowest median tax bill at $287.
Average Moscow Assessed Value
$76,200
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 Moscow, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38057 | $15,460 | $35,300 | $76,200 | $144,925 | $280,710 |
Source: Ownwell
Property Tax Bills Across Moscow, Tennessee
In Moscow, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Moscow is $76,200. Property taxes are determined by multiplying the assessed value of the property by the local tax rate. For homeowners in Moscow, tax bills can vary significantly. The 25th percentile tax bill is $124, while the 75th percentile tax bill reaches $626, and the 90th percentile climbs to $994. Fayette County, where Moscow is located, shows a consistent median tax bill of $287, which is notably below the national median property tax rate of 0.99%. These tax bills impact homeowners by influencing their overall cost of homeownership. Lower property taxes can make homeownership more affordable, while higher taxes can add a significant financial burden. Understanding these factors helps homeowners anticipate their annual expenses and budget accordingly.
Average Moscow Tax Bill
$287
Average Fayette County Tax Bill
$616
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Moscow, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38057 | $54 | $124 | $287 | $626 | $994 |
Source: Ownwell