Mount Pleasant, Tennessee Property Taxes
The median property tax rate in Mount Pleasant, TN is 0.47%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Mount Pleasant at $121,850, the typical annual property tax bill reaches $520, well below the national median of $2,690. Property taxes in Mount Pleasant 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 Mount Pleasant'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 Mount Pleasant 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
Mount Pleasant, 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 Mount Pleasant Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Pleasant with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Pleasant 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 Mount Pleasant, Tennessee
Property taxes in Mount Pleasant, Tennessee, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Mount Pleasant is 0.47%, which is significantly lower than both the Tennessee state median of 0.68% and the U.S. national median of 0.99%. Local government entities within Mount Pleasant set these rates annually, and they can vary across different neighborhoods. Each year, Mount Pleasant 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 Mount Pleasant's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38474 zip code has both the highest and lowest median property tax rate of 0.47%. Understanding how these cities compare with Mount Pleasant provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Pleasant Tax Rate
0.47%
Average Lewis County Tax Rate
0.47%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Pleasant, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38474 | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Mount Pleasant, Tennessee
In Mount Pleasant, 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 Lewis 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 Mount Pleasant, 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 Mount Pleasant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $121,850, with tax bills ranging from $303 at the 25th percentile to $1,171 at the 90th percentile. The highest and lowest median tax bills are both $520 in the 38474 zip code.
Property Tax Assessment Values Across Mount Pleasant, Tennessee
Source: Ownwell
$70,800
$172,700
$274,600
Average Mount Pleasant Assessed Value
$121,850
Average Lewis County Assessed Value
$107,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Pleasant, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38474 | $39,430 | $89,075 | $121,850 | $200,475 | $252,960 |
Source: Ownwell
Property Tax Bills Across Mount Pleasant, Tennessee
In Mount Pleasant, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Factors such as the property's size, location, and any improvements or renovations can influence its assessed value. Once the assessed value is determined, the local tax rate is applied to calculate the annual tax bill. For homeowners in Mount Pleasant, the median home price is $121,850. Property tax bills in this area vary, with the 25th percentile tax bill at $303 and the 75th percentile tax bill at $831. At the 90th percentile, homeowners might see tax bills as high as $1,171. These figures indicate the range of property tax burdens that residents might face, with the highest median tax bill in the county being $520, which is still below the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Mount Pleasant Tax Bill
$520
Average Lewis County Tax Bill
$476
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Pleasant, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38474 | $78 | $303 | $520 | $831 | $1,171 |
Source: Ownwell