Mount Pleasant, Tennessee Property Taxes
The median property tax rate in Mount Pleasant, TN is 0.90%, slightly below the national median of 0.99% but significantly higher than the Tennessee state median of 0.64%. With the median home value in Mount Pleasant at $138,300, the typical annual property tax bill reaches $952, which is lower than 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 crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Pleasant is 0.90%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Mount Pleasant set these rates annually, and they can vary significantly 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 0.90%. Understanding how these cities compare with Mount Pleasant provides valuable insights into the varying tax landscape across Maury County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Pleasant Tax Rate
0.90%
Average Maury County Tax Rate
0.66%
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 | 0.48% | 0.48% | 0.90% | 0.90% | 0.90% |
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 Maury 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. For instance, the median home price in Mount Pleasant is $138,300, with tax bills ranging from $532 at the 25th percentile to $1,472 at the 75th percentile. The highest and lowest median tax bills are both $953 in the 38474 zip code. 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.
Property Tax Assessment Values Across Mount Pleasant, Tennessee
Source: Ownwell
$20,500
$260,950
$501,400
Average Mount Pleasant Assessed Value
$138,300
Average Maury County Assessed Value
$247,600
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 | $43,300 | $83,775 | $138,400 | $212,925 | $328,800 |
Source: Ownwell
Property Tax Bills Across Mount Pleasant, Tennessee
Property tax bills in Mount Pleasant, located in Maury County, TN, are calculated based on the assessed value of a property. The assessed value is determined by the county assessor, who evaluates the property's market value and then applies an assessment ratio. For residential properties, this ratio is typically 25% of the market value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For example, with a median home price of $138,300, homeowners in Mount Pleasant might expect a tax bill around the median value of $953, which aligns closely with the national median property tax rate of 0.99%. However, tax bills can vary significantly. The 25th percentile tax bill is $532, while the 75th percentile reaches $1,472, and the 90th percentile can go up to $2,130. These variations highlight how factors like property value and assessment practices impact homeowners differently, influencing their financial planning and homeownership costs.
Average Mount Pleasant Tax Bill
$952
Average Maury County Tax Bill
$1,525
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 | $252 | $532 | $953 | $1,472 | $2,130 |
Source: Ownwell