Clifton, Tennessee Property Taxes
The median property tax rate in Clifton, TN is 0.69%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With the median home value in Clifton at $123,250, the typical annual property tax bill is $995, falling below the national median of $2,690. Property taxes in Clifton 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 Clifton'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 Clifton or another part of Hardin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clifton, 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 Clifton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clifton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clifton 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 Clifton, Tennessee
Property taxes in Clifton, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clifton is 0.69%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Clifton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clifton 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 Clifton's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38425 zip code has the highest median property tax rate of 0.69%, while the same 38425 zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Clifton provides valuable insights into the varying tax landscape across Hardin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clifton Tax Rate
0.69%
Average Hardin County Tax Rate
0.70%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clifton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38425 | 0.58% | 0.65% | 0.69% | 0.73% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Clifton, Tennessee
In Clifton, 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 Hardin 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 Clifton, 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 Clifton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 38425, with a median tax bill of $995.
Average Clifton Assessed Value
$123,250
Average Hardin County Assessed Value
$89,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clifton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38425 | $25,500 | $57,450 | $123,250 | $175,425 | $220,230 |
Source: Ownwell
Property Tax Bills Across Clifton, Tennessee
In Clifton, Hardin County, TN, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Clifton is $123,250. Property taxes are then determined by applying the local tax rate to this assessed value. For instance, homeowners in the 25th percentile pay around $568 annually, while those in the 75th percentile pay approximately $1,274. The 90th percentile sees tax bills reaching up to $1,593. Factors influencing these tax bills include the home's market value and any applicable exemptions or deductions. Higher-valued properties typically result in higher tax bills, impacting homeowners' financial planning. Compared to the national median property tax rate of 0.99%, Clifton's property tax bills can be considered moderate. This system ensures that property taxes are proportional to the value of the home, allowing for equitable distribution of the tax burden among residents.
Average Clifton Tax Bill
$995
Average Hardin County Tax Bill
$809
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Clifton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38425 | $358 | $568 | $995 | $1,274 | $1,593 |
Source: Ownwell