Adams, Montgomery County, Tennessee Property Taxes
The median property tax rate in Adams, TN is 0.75%, 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 Adams at $275,650, the typical annual property tax bill reaches $2,040, falling short of the national median of $2,690. Property taxes in Adams 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 Adams' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Adams 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
Adams, Montgomery County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$2,067
$1,918
Ownwell’s Adams Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Adams with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Adams 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 Adams, Montgomery County, Tennessee
Property taxes in Adams, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Adams is 0.75%, lower than both the Tennessee state median of 0.71% and the U.S. national median of 0.99%. Local government entities within Adams set these rates annually, and they can vary significantly across different neighborhoods. Each year, Adams 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 Adams' effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37010 zip code has the highest median property tax rate of 0.75%, while the 37010 zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Adams provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Adams Tax Rate
0.75%
Average Montgomery County Tax Rate
1.05%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Adams, Montgomery County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37010 | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Adams, Montgomery County, Tennessee
In Adams, 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 Montgomery 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 Adams, 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 Adams helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 37010 has both the highest and lowest median tax bill at $2,040.
Property Tax Assessment Values Across Adams, Montgomery County, Tennessee
Source: Ownwell
$134,500
$205,075
$275,650
Average Adams Assessed Value
$275,650
Average Montgomery County Assessed Value
$172,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Adams, Montgomery County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37010 | $167,100 | $226,550 | $275,650 | $348,525 | $482,550 |
Source: Ownwell
Property Tax Bills Across Adams, Montgomery County, Tennessee
In Adams, located in Montgomery County, TN, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Adams is $275,650. The local tax rate is applied to this assessed value to determine the tax bill. For instance, the 25th percentile tax bill is $1,685, while the 75th percentile tax bill is $2,581. At the 90th percentile, homeowners can expect a tax bill of $3,452. These figures show the range of property taxes homeowners might face, with the highest median tax bill being $2,040 in the zip code 37010. Comparatively, the national median property tax rate is 0.99%, so homeowners in Adams may find their tax bills relatively moderate. Factors like property improvements and changes in market conditions can impact the assessed value, and consequently, the tax bill. This affects homeowners by influencing their annual financial obligations and potentially their decisions on property investments or sales.
Average Adams Tax Bill
$2,040
Average Montgomery County Tax Bill
$1,610
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Adams, Montgomery County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37010 | $1,198 | $1,685 | $2,040 | $2,581 | $3,452 |
Source: Ownwell