Chattanooga, Tennessee Property Taxes
The median property tax rate in Chattanooga, TN is 0.56%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $166,300 in Chattanooga, the typical annual property tax bill amounts to $1,083, which is well below the national median of $2,690. Property taxes in Chattanooga are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Chattanooga'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 Chattanooga or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chattanooga, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$931
$864
Ownwell’s Chattanooga Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chattanooga with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chattanooga 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 Hamilton County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Chattanooga, Tennessee
Property taxes in Chattanooga, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chattanooga is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Chattanooga set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chattanooga 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 Chattanooga's effective property tax rate to other areas in Hamilton County and the national median. For comparison, the 37412 zip code has the highest median property tax rate of 0.88%, while the 37402 zip code has the lowest median tax rate of 0.56%. Understanding how these areas compare with Chattanooga provides valuable insights into the varying tax landscape across Hamilton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chattanooga Tax Rate
0.56%
Average Hamilton County Tax Rate
0.56%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chattanooga, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37402 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| 37403 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| 37404 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| 37405 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| 37406 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| 37407 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| 37408 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| 37409 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| 37410 | 0.56% | 0.56% | 0.56% | 0.56% | 0.89% |
| 37411 | 0.56% | 0.56% | 0.56% | 0.56% | 0.88% |
| 37412 | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
| 37415 | 0.56% | 0.56% | 0.56% | 0.86% | 0.86% |
| 37416 | 0.56% | 0.56% | 0.56% | 0.56% | 0.57% |
| 37419 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| 37421 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Chattanooga, Tennessee
In Chattanooga, 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 Hamilton County Assessor of Property 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 Chattanooga, 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. The highest median tax bill in Chattanooga is $1,740 in zip code 37402, while the lowest median tax bill is $251 in zip code 37407. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chattanooga Assessed Value
$166,300
Average Hamilton County Assessed Value
$194,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chattanooga, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37402 | $174,400 | $189,900 | $311,100 | $552,195 | $817,500 |
| 37403 | $89,720 | $165,900 | $242,900 | $365,000 | $745,580 |
| 37404 | $40,100 | $66,200 | $106,500 | $170,200 | $285,720 |
| 37405 | $91,100 | $162,700 | $285,300 | $406,525 | $594,150 |
| 37406 | $36,000 | $46,900 | $70,400 | $112,950 | $156,400 |
| 37407 | $31,400 | $36,900 | $44,900 | $60,400 | $86,400 |
| 37408 | $108,000 | $215,000 | $287,000 | $388,600 | $469,610 |
| 37409 | $104,700 | $129,900 | $169,100 | $245,400 | $334,600 |
| 37410 | $33,090 | $40,100 | $51,950 | $68,400 | $124,530 |
| 37411 | $63,690 | $89,600 | $117,600 | $157,275 | $206,010 |
| 37412 | $108,850 | $126,400 | $147,000 | $181,300 | $225,300 |
| 37415 | $122,500 | $149,025 | $188,600 | $243,500 | $351,840 |
| 37416 | $107,000 | $135,000 | $165,000 | $206,400 | $310,632 |
| 37419 | $81,100 | $114,700 | $165,750 | $319,075 | $511,500 |
| 37421 | $136,200 | $178,100 | $223,800 | $285,900 | $384,900 |
Source: Ownwell
Property Tax Bills Across Chattanooga, Tennessee
In Chattanooga, Hamilton County, 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 Chattanooga is $166,300. Local tax rates are applied to this assessed value to determine the annual tax bill. Various factors influence this calculation, including property location, improvements, and market conditions. For homeowners, the tax bill can vary significantly. For instance, the 25th percentile tax bill stands at $674, while the 75th percentile reaches $1,550. At the higher end, the 90th percentile tax bill is $2,171. The highest median tax bill in Chattanooga is $1,740 in the 37402 ZIP code, whereas the lowest is $251 in the 37407 ZIP code. These variations can impact homeowners' financial planning and decisions, making it essential to understand how local tax policies and property assessments influence their annual obligations. Compared to the national median property tax rate of 0.99%, Chattanooga's rates offer a diverse range of tax liabilities for its residents.
Average Chattanooga Tax Bill
$1,083
Average Hamilton County Tax Bill
$1,209
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Chattanooga, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37402 | $975 | $1,062 | $1,740 | $3,089 | $4,572 |
| 37403 | $531 | $970 | $1,387 | $2,070 | $4,259 |
| 37404 | $221 | $400 | $626 | $1,010 | $1,642 |
| 37405 | $510 | $976 | $1,623 | $2,324 | $3,356 |
| 37406 | $201 | $261 | $436 | $645 | $913 |
| 37407 | $176 | $206 | $251 | $349 | $568 |
| 37408 | $644 | $1,221 | $1,628 | $2,195 | $2,629 |
| 37409 | $595 | $748 | $979 | $1,387 | $1,872 |
| 37410 | $185 | $224 | $295 | $494 | $702 |
| 37411 | $355 | $503 | $692 | $935 | $1,211 |
| 37412 | $953 | $1,125 | $1,346 | $1,679 | $2,069 |
| 37415 | $750 | $992 | $1,354 | $1,789 | $2,387 |
| 37416 | $600 | $769 | $971 | $1,208 | $1,752 |
| 37419 | $452 | $646 | $940 | $1,781 | $2,837 |
| 37421 | $772 | $1,007 | $1,263 | $1,614 | $2,159 |
Source: Ownwell