Clarksville, Montgomery County, Tennessee Property Taxes
The median property tax rate in Clarksville, TN is 1.05%, slightly above the national median of 0.99% and significantly higher than the Tennessee state median of 0.64%. With a median home value of $171,300 in Clarksville, the typical annual property tax bill amounts to $1,621, which is lower than the national median of $2,690. Property taxes in Clarksville are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Clarksville'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 Clarksville or another part of Montgomery County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clarksville, Montgomery County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$1,799
$1,669
Ownwell’s Clarksville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clarksville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clarksville 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 Clarksville, Montgomery County, Tennessee
Property taxes in Clarksville, Tennessee, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Clarksville is 1.05%, higher than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clarksville 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 Clarksville's effective property tax rate to other areas in Tennessee and the national median. For comparison, the 37042 zip code has the highest median property tax rate of 1.05%, while the 37010 zip code has the lowest median tax rate of 0.75%. Understanding how these areas compare with Clarksville 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 Clarksville Tax Rate
1.05%
Average Montgomery County Tax Rate
1.05%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clarksville, Montgomery County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37010 | N/A | N/A | N/A | N/A | N/A |
| 37040 | 0.75% | 0.75% | 1.05% | 1.06% | 1.06% |
| 37042 | 0.75% | 0.75% | 1.05% | 1.06% | 1.06% |
| 37043 | 0.75% | 0.75% | 0.75% | 1.06% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Clarksville, Montgomery County, Tennessee
In Clarksville, 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 Clarksville, 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. The highest median tax bill in Clarksville is $3,610 in the 37010 zip code, while the lowest median tax bill is $1,469 in the 37042 zip code. Being aware of these valuation processes in Clarksville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Clarksville, Montgomery County, Tennessee
Source: Ownwell
$134,500
$205,075
$275,650
Average Clarksville Assessed Value
$171,300
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 Clarksville, Montgomery County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37010 | N/A | N/A | N/A | N/A | N/A |
| 37040 | $78,900 | $118,900 | $166,400 | $210,500 | $259,900 |
| 37042 | $97,800 | $118,100 | $149,200 | $194,875 | $239,300 |
| 37043 | $124,450 | $164,125 | $232,200 | $300,000 | $382,500 |
Source: Ownwell
Property Tax Bills Across Clarksville, Montgomery County, Tennessee
In Clarksville, located in Montgomery County, TN, property tax bills are calculated based on the assessed value of a home, 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. For instance, with a median home price of $171,300, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $1,218, while at the 75th percentile, the tax bill could reach $2,106. For those at the 90th percentile, it can go up to $2,703. Several factors influence these amounts, including the specific zip code, where some areas like zip code 37010 have the highest median tax bill at $3,610, contrasting sharply with zip code 37042, which has the lowest median tax bill at $1,469. Understanding these variations helps homeowners anticipate their property tax liabilities and manage their finances more effectively. The national median property tax rate is 0.99%, providing a benchmark for comparisons.
Average Clarksville Tax Bill
$1,621
Average Montgomery County Tax Bill
$1,610
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Clarksville, Montgomery County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37010 | N/A | N/A | N/A | N/A | N/A |
| 37040 | $699 | $1,096 | $1,606 | $2,034 | $2,480 |
| 37042 | $937 | $1,172 | $1,469 | $1,840 | $2,303 |
| 37043 | $1,102 | $1,489 | $1,960 | $2,583 | $3,373 |
Source: Ownwell