Middleton, Tennessee Property Taxes
The median property tax rate in Middleton, TN is 0.80%, slightly below the national median of 0.99% but higher than Tennessee's state median of 0.64%. With the median home value in Middleton, the typical annual property tax bill reaches $626, which is significantly lower than the national median of $2,690. Property taxes in Middleton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Middleton'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 Middleton 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
Middleton, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$608
$564
Ownwell’s Middleton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middleton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middleton 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 Middleton, Tennessee
Property taxes in Middleton, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middleton is 0.80%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Middleton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middleton 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 Middleton's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38052 zip code has the highest median property tax rate of 0.80%, while the 38052 zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Middleton provides valuable insights into the varying tax landscape across Hardeman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Middleton Tax Rate
0.80%
Average Hardeman County Tax Rate
0.89%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middleton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38052 | 0.69% | 0.73% | 0.80% | 0.98% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Middleton, Tennessee
In Middleton, 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 Hardeman 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 Middleton, 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 Middleton 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 38052 at $626.00, while the lowest is also 38052 at $626.00.
Average Middleton Assessed Value
$76,000
Average Hardeman County Assessed Value
$64,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Middleton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38052 | $21,980 | $44,300 | $76,000 | $118,200 | $189,800 |
Source: Ownwell
Property Tax Bills Across Middleton, Tennessee
In Middleton, located in Hardeman County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners in Middleton, the median home price is $76,000. Property taxes are then determined by applying the local tax rate to this assessed value. Several factors influence the final tax bill, including property location, home improvements, and any applicable exemptions. In Middleton, property tax bills range significantly. For example, the 25th percentile tax bill is around $413, while the 75th percentile tax bill is approximately $924. At the higher end, the 90th percentile tax bill can reach up to $1,358. Comparatively, the national median property tax rate is 0.99%, which can help homeowners understand how their local tax rates stand in relation to the broader national context. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the community and homeowners' quality of life.
Average Middleton Tax Bill
$626
Average Hardeman County Tax Bill
$587
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Middleton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38052 | $266 | $413 | $626 | $924 | $1,358 |
Source: Ownwell