Mc Ewen, Houston County, Tennessee Property Taxes
The median property tax rate in Mc Ewen, TN is 0.70%, slightly higher than the Tennessee state median of 0.64% but lower than the national median of 0.99%. With a median home value of $147,750, the typical annual property tax bill in Mc Ewen amounts to $1,028, which is below the national median of $2,690. Property taxes in Mc Ewen are calculated based on the assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Mc Ewen's property tax system, including available exemptions and potential reductions, can lead to substantial annual savings. Whether you're in the heart of Mc Ewen or another part of the city, grasping the local property tax structure will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Ewen, Houston County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$1,034
$960
Ownwell’s Mc Ewen Property Tax Bill Calculator assists homeowners, real estate investors, and potential owners in estimating their annual property taxes in Mc Ewen with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Mc Ewen to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in trends at the 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, taking into account any applicable exemptions.
Property Tax Rates Across Mc Ewen, Houston County, Tennessee
Property taxes in Mc Ewen, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mc Ewen is 0.70%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Mc Ewen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Ewen 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 Mc Ewen's effective property tax rate to other counties in Tennessee and the national median. For comparison, the highest and lowest median property tax rates in Mc Ewen are both 0.70%, which aligns with the city's median rate. Understanding how these figures compare with Mc Ewen provides valuable insights into the varying tax landscape across Houston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Ewen Tax Rate
0.70%
Average Houston County Tax Rate
0.70%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Ewen, Houston County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37101 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Mc Ewen, Houston County, Tennessee
In Mc Ewen, 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 Houston 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 Mc Ewen, 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 Mc Ewen 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 in Mc Ewen is 37101, with a median tax bill of $1028, while the lowest median tax bill is also in the 37101 zip code, reflecting the same value.
Property Tax Assessment Values Across Mc Ewen, Houston County, Tennessee
Source: Ownwell
$69,500
$119,775
$170,050
Average Mc Ewen Assessed Value
$147,750
Average Houston County Assessed Value
$92,550
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Ewen, Houston County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37101 | $33,900 | $88,825 | $147,750 | $206,850 | $270,210 |
Source: Ownwell
Property Tax Bills Across Mc Ewen, Houston County, Tennessee
Property tax bills in Mc Ewen, located in Houston County, TN, are calculated based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the market value of the home. In this region, the median home price stands at $147,750. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, homeowners in Mc Ewen might see tax bills ranging from $675 at the 25th percentile to $1,893 at the 90th percentile. The median tax bill in this area is $1,028, which is below the national median property tax rate of 0.99%. For homeowners, these property taxes fund essential public services such as schools, infrastructure, and emergency services. Understanding how property taxes are calculated helps homeowners plan their finances and ensures they are aware of the contributions they make to their community.
Average Mc Ewen Tax Bill
$1,028
Average Houston County Tax Bill
$713
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Ewen, Houston County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37101 | $235 | $675 | $1,028 | $1,457 | $1,893 |
Source: Ownwell