Cedar Hill, Montgomery County, Tennessee Property Taxes
The median property tax rate in Cedar Hill, 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 a median home value of $255,050 in Cedar Hill, the typical annual property tax bill is $1,866, significantly below the national median of $2,690. Property taxes in Cedar Hill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cedar Hill'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 Cedar Hill 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
Cedar Hill, Montgomery County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$1,913
$1,775
Ownwell’s Cedar Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cedar Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cedar Hill 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 Cedar Hill, Montgomery County, Tennessee
Property taxes in Cedar Hill, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cedar Hill is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Cedar Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedar Hill 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 Cedar Hill's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37032 has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Cedar Hill 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 Cedar Hill 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 Cedar Hill, Montgomery County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37032 | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Cedar Hill, Montgomery County, Tennessee
In Cedar Hill, 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 Cedar Hill, 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 Cedar Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1866 in the 37032 zip code, while the lowest median tax bill is also $1866 in the same zip code.
Property Tax Assessment Values Across Cedar Hill, Montgomery County, Tennessee
Source: Ownwell
$134,500
$205,075
$275,650
Average Cedar Hill Assessed Value
$255,050
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 Cedar Hill, Montgomery County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37032 | $144,570 | $177,375 | $255,050 | $321,191 | $392,510 |
Source: Ownwell
Property Tax Bills Across Cedar Hill, Montgomery County, Tennessee
In Cedar Hill, TN, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, impacting the final tax amount. For instance, in Cedar Hill, homeowners experience varying tax bills, with the 25th percentile paying around $1,278 annually, while those in the 75th percentile pay about $2,062. The highest median tax bill in the region is $1,866, which is significantly lower than the national median property tax rate of 0.99%. This difference can make Cedar Hill an attractive location for homeowners seeking lower property tax burdens. Understanding these factors can help homeowners anticipate their annual tax liabilities and budget accordingly.
Average Cedar Hill Tax Bill
$1,866
Average Montgomery County Tax Bill
$1,610
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedar Hill, Montgomery County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37032 | $1,080 | $1,278 | $1,866 | $2,062 | $2,635 |
Source: Ownwell