Athens, Tennessee Property Taxes
The median property tax rate in Athens, TN is 0.72%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With the median home value in Athens, the typical annual property tax bill reaches $688, significantly below the national median of $2,690. Property taxes in Athens 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 Athens'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 Athens 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
Athens, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$815
Ownwell’s Athens Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Athens with just two data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Athens to provide an estimate of your property tax bill. This valuable tool helps you gauge potential tax liabilities. For those interested in neighborhood-specific trends, more localized information is available below. Your property’s assessed value is determined by McMinn County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Athens, Tennessee
Property taxes in Athens, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Athens is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Athens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Athens 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 Athens' effective property tax rate to other areas in Tennessee and the national median. For comparison, the 37303 zip code has both the highest and lowest median property tax rate of 0.72%. Understanding how these areas compare with Athens provides valuable insights into the varying tax landscape across McMinn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Athens Tax Rate
0.72%
Average Mcminn County Tax Rate
0.48%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Athens, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37303 | 0.39% | 0.42% | 0.72% | 0.81% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Athens, Tennessee
In Athens, 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 McMinn 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 Athens, 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. The median home price in Athens is $113,200, with tax bills varying significantly. For instance, the 25th percentile tax bill is $477, while the 75th percentile reaches $1,006, and the 90th percentile hits $1,455. Notably, the zip code 37303 has the highest and lowest median tax bill at $688. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Athens Assessed Value
$113,200
Average Mcminn County Assessed Value
$107,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Athens, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37303 | $47,200 | $73,650 | $113,200 | $168,700 | $240,600 |
Source: Ownwell
Property Tax Bills Across Athens, Tennessee
In Athens, TN, within McMinn County, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value, which for Athens, has a median home price of $113,200. The tax rate is then applied to this assessed value to determine the annual tax bill. Factors considered include the property's location, size, and condition. Homeowners in Athens might see tax bills ranging significantly, with the 25th percentile at $477 and the 75th percentile at $1006. For those in the 90th percentile, tax bills can reach up to $1455. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Athens homeowners might find their tax rates relatively moderate, providing a balance between cost and community benefits.
Average Athens Tax Bill
$688
Average Mcminn County Tax Bill
$618
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Athens, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37303 | $273 | $477 | $688 | $1,006 | $1,455 |
Source: Ownwell