Milledgeville, Tennessee Property Taxes
The median property tax rate in Milledgeville, Tennessee is 0.73%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With a median home value of $78,800 in Milledgeville, the typical annual property tax bill is approximately $697, significantly below the national median of $2,690. Property taxes in Milledgeville are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Milledgeville's property tax system and exploring available exemptions can lead to substantial annual savings. Whether you're in the heart of Milledgeville or another part of the city, getting familiar with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Milledgeville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$575
$534
Ownwell’s Milledgeville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milledgeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milledgeville 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 Milledgeville, Tennessee
Property taxes in Milledgeville, Tennessee, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milledgeville is 0.73%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Milledgeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milledgeville 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 Milledgeville's effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 38359 has both the highest and lowest median property tax rate of 0.73%. Understanding how these areas compare with Milledgeville 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 Milledgeville Tax Rate
0.73%
Average Hardin County Tax Rate
0.70%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milledgeville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38359 | 0.60% | 0.67% | 0.73% | 0.84% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Milledgeville, Tennessee
In Milledgeville, 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 Milledgeville, 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 Milledgeville 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 38359, valued at $697.00, while the lowest median tax bill also falls within the same zip code.
Property Tax Assessment Values Across Milledgeville, Tennessee
Source: Ownwell
$52,400
$125,200
$198,000
Average Milledgeville Assessed Value
$78,800
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 Milledgeville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38359 | $35,400 | $47,050 | $78,800 | $125,150 | $204,580 |
Source: Ownwell
Property Tax Bills Across Milledgeville, Tennessee
In Milledgeville, located in Hardin County, TN, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the county assessor and is a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the tax bill, including the property's market value, any applicable exemptions, and the local tax rate. For instance, the median home price in Milledgeville is $78,800. Homeowners in this region can expect their property tax bills to vary widely, with the 25th percentile at $414 and the 75th percentile at $966. The 90th percentile can see tax bills as high as $1,574. These property taxes significantly impact homeowners, affecting their monthly mortgage payments and overall housing affordability. Compared to the national median property tax rate of 0.99%, property taxes in Milledgeville can be relatively manageable, but they still represent a crucial aspect of homeownership costs in the area.
Average Milledgeville Tax Bill
$697
Average Hardin County Tax Bill
$809
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Milledgeville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38359 | $336 | $414 | $697 | $966 | $1,574 |
Source: Ownwell