Calhoun, Tennessee Property Taxes
The median property tax rate in Calhoun, TN is 0.46%, significantly lower than both the national median of 0.99% and Tennessee's state median of 0.64%. With a median home value of $95,600 in Calhoun, the typical annual property tax bill is $496, well below the national median of $2,690. Property taxes in Calhoun are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Calhoun's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Calhoun or another part of McMinn County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Calhoun, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$440
$408
Ownwell’s Calhoun Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Calhoun with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Calhoun to provide an estimate of your property tax bill. This valuable tool offers clarity on potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by McMinn County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Calhoun, Tennessee
Property taxes in Calhoun, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Calhoun is 0.46%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Calhoun set these rates annually, and they can vary significantly across different neighborhoods. Each year, Calhoun 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 Calhoun's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37309 zip code has the highest median property tax rate of 0.46%, while the same zip code also has the lowest median tax rate of 0.46%. Understanding how these cities compare with Calhoun 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 Calhoun Tax Rate
0.46%
Average Mcminn County Tax Rate
0.48%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Calhoun, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37309 | 0.38% | 0.41% | 0.46% | 0.56% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Calhoun, Tennessee
In Calhoun, 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 Calhoun, 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. For instance, the median home price in Calhoun is $95,600, with tax bills ranging from $344 at the 25th percentile to $1,046 at the 90th percentile. The highest and lowest median tax bills, both at $496, are found in the 37309 zip code. By understanding 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 Calhoun helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Calhoun Assessed Value
$95,600
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 Calhoun, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37309 | $44,400 | $66,600 | $95,600 | $166,000 | $239,600 |
Source: Ownwell
Property Tax Bills Across Calhoun, Tennessee
In Calhoun, McMinn County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of the property's market value. For instance, with a median home price of $95,600, various factors come into play to determine the final tax bill. The local tax rate is applied to the assessed value, which is influenced by the property's location, size, and condition. Homeowners in Calhoun see a range of tax bills depending on these factors. The 25th percentile tax bill is around $344, while the 75th percentile reaches $728. At the higher end, the 90th percentile tax bill can be as much as $1,046. This variation shows how different property characteristics and local assessments can impact the amount homeowners owe. Compared to the national median property tax rate of 0.99%, Calhoun's tax rates reflect regional specifics that can either ease or increase the financial burden on property owners.
Average Calhoun Tax Bill
$496
Average Mcminn County Tax Bill
$618
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Calhoun, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37309 | $192 | $344 | $496 | $728 | $1,046 |
Source: Ownwell