Harrison, Hamilton County, Tennessee Property Taxes
The median property tax rate in Harrison, TN is 0.56%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Harrison at $190,400, the typical annual property tax bill is $1,087, well below the national median of $2,690. Property taxes in Harrison are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Harrison's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Harrison or another part of Hamilton County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harrison, Hamilton County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,066
$989
Ownwell’s Harrison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harrison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harrison 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 Harrison, Hamilton County, Tennessee
Property taxes in Harrison, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harrison is 0.56%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Harrison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harrison 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 Harrison's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37341 zip code has the highest median property tax rate of 0.56%, while the same 37341 zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Harrison 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 Harrison 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 Harrison, Hamilton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37341 | 0.56% | 0.56% | 0.56% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Harrison, Hamilton County, Tennessee
In Harrison, 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 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 Harrison, 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 Harrison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 37341, standing at $1087, which matches the lowest median tax bill in the same area.
Property Tax Assessment Values Across Harrison, Hamilton County, Tennessee
Source: Ownwell
$44,900
$299,425
$553,950
Average Harrison Assessed Value
$190,400
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 Harrison, Hamilton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37341 | $101,000 | $147,950 | $190,400 | $264,600 | $408,880 |
Source: Ownwell
Property Tax Bills Across Harrison, Hamilton County, Tennessee
In Harrison, located in Hamilton County, 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 Harrison is $190,400. Factors such as property location, size, and improvements play a crucial role in determining this market value. The assessed value is then multiplied by the county's tax rate to compute the annual tax bill. For homeowners in Harrison, the tax bills can vary significantly. The 25th percentile tax bill is around $851, while the 75th percentile tax bill is approximately $1,476. For those at the higher end, the 90th percentile tax bill can reach up to $2,244. Comparatively, the national median property tax rate is 0.99%, making Harrison's property taxes relatively moderate. These taxes fund essential public services such as schools, roads, and emergency services, directly impacting the quality of life for residents. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Harrison Tax Bill
$1,087
Average Hamilton County Tax Bill
$1,209
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Harrison, Hamilton County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37341 | $561 | $851 | $1,087 | $1,476 | $2,244 |
Source: Ownwell