Chattanooga, Marion County, Tennessee Property Taxes
The median property tax rate in Chattanooga, TN is 0.44%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value in Chattanooga of $130,700, the typical annual property tax bill is $579, far below the national median of $2,690. Property taxes in Chattanooga are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Chattanooga'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 Chattanooga or another part of Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chattanooga, Marion County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.44%
Estimate Property Tax Bill
$575
$534
Ownwell’s Chattanooga Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chattanooga with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chattanooga 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 Chattanooga, Marion County, Tennessee
Property taxes in Chattanooga, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chattanooga is 0.44%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Chattanooga set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chattanooga 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 Chattanooga's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37405 zip code has the highest median property tax rate of 0.44%, while the 37419 zip code has the lowest median tax rate of 0.44%. Understanding how these areas compare with Chattanooga provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chattanooga Tax Rate
0.44%
Average Marion County Tax Rate
0.44%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chattanooga, Marion County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37405 | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% |
| 37419 | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Chattanooga, Marion County, Tennessee
In Chattanooga, 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 Marion 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 Chattanooga, 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. Chattanooga's median home price is $130,700, with the 25th percentile tax bill at $187 and the 75th percentile tax bill at $1,189. The highest median tax bill in the area is $1,128 in the 37419 zip code, while the lowest is $443 in the 37405 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Chattanooga, Marion County, Tennessee
Source: Ownwell
$20,750
$138,500
$256,250
Average Chattanooga Assessed Value
$130,700
Average Marion County Assessed Value
$88,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chattanooga, Marion County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37405 | $14,100 | $29,900 | $100,250 | $183,800 | $273,880 |
| 37419 | $25,710 | $81,275 | $256,250 | $637,775 | $933,150 |
Source: Ownwell
Property Tax Bills Across Chattanooga, Marion County, Tennessee
In Chattanooga, located in Marion County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The local tax rate, known as the millage rate, is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and market conditions. For instance, the median home price in Chattanooga is $130,700. Homeowners in the 25th percentile can expect a tax bill around $187, while those in the 75th percentile might see bills closer to $1,189. At the 90th percentile, tax bills can reach up to $2,722. The highest median tax bill in the area, $1,128, is found in the 37419 zip code, while the lowest, $443, is in the 37405 zip code. Homeowners should be aware that property taxes can significantly impact their annual expenses, making it essential to understand how these taxes are determined and how they can vary across different areas within the city.
Average Chattanooga Tax Bill
$579
Average Marion County Tax Bill
$420
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Chattanooga, Marion County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37405 | $61 | $132 | $443 | $809 | $1,206 |
| 37419 | $113 | $358 | $1,128 | $2,806 | $4,107 |
Source: Ownwell