Moon Township, Tennessee Property Taxes
The median property tax rate in Moon Township, TN is 0.51%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Moon Township, the typical annual property tax bill reaches $565, significantly below the national median of $2,690. Property taxes in Moon Township 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 Moon Township'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 Moon Township 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
Moon Township, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$563
$522
Ownwell’s Moon Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moon Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moon Township 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 Moon Township, Tennessee
Property taxes in Moon Township, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moon Township is 0.51%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Moon Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moon Township 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 Moon Township's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 15108 has both the highest and lowest median property tax rate of 0.51%, highlighting a uniform tax rate within this area. Understanding how these areas compare with Moon Township 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 Moon Township Tax Rate
0.51%
Average Marion County Tax Rate
0.44%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moon Township, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15108 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Moon Township, Tennessee
In Moon Township, 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 Moon Township, 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 Moon Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Moon Township are both $565, found in the 15108 zip code.
Property Tax Assessment Values Across Moon Township, Tennessee
Source: Ownwell
$20,750
$138,500
$256,250
Average Moon Township Assessed Value
$110,400
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 Moon Township, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15108 | $110,400 | $110,400 | $110,400 | $110,400 | $110,400 |
Source: Ownwell
Property Tax Bills Across Moon Township, Tennessee
In Moon Township, Marion County, TN, property tax bills are determined based on the assessed value of a home. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate. For homeowners in Moon Township, the median home price is $110,400. Using this value, the median property tax bill is $565, which falls within the 25th, 75th, and 90th percentiles, indicating a consistent tax environment. Several factors influence the property tax bill, including the assessed value of the property, any applicable exemptions, and the local tax rate. Homeowners should be aware that changes in the market value of their property can directly impact their tax bill. Compared to the national median property tax rate of 0.99%, the tax obligations in Moon Township are relatively moderate. This consistency and predictability in property tax bills can help homeowners budget more effectively and plan for future expenses.
Average Moon Township Tax Bill
$565
Average Marion County Tax Bill
$420
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Moon Township, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15108 | $565 | $565 | $565 | $565 | $565 |
Source: Ownwell