Cunningham, Montgomery County, Tennessee Property Taxes
The median property tax rate in Cunningham, 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 $171,850, the typical annual property tax bill in Cunningham is $1,252, significantly below the national median of $2,690. Property taxes in Cunningham are calculated based on the assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Navigating Cunningham's property tax system, exploring available exemptions, and uncovering opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Cunningham 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
Cunningham, Montgomery County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$1,289
$1,196
Ownwell’s Cunningham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cunningham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cunningham 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 Cunningham, Montgomery County, Tennessee
Property taxes in Cunningham, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cunningham is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Cunningham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cunningham 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 Cunningham's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37052 has both the highest and lowest median property tax rate of 0.75%. Understanding how these cities compare with Cunningham 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 Cunningham 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 Cunningham, Montgomery County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37052 | 0.70% | 0.75% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Cunningham, Montgomery County, Tennessee
In Cunningham, 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 Cunningham, 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 Cunningham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,252, specifically in the 37052 zip code.
Property Tax Assessment Values Across Cunningham, Montgomery County, Tennessee
Source: Ownwell
$134,500
$205,075
$275,650
Average Cunningham Assessed Value
$171,850
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 Cunningham, Montgomery County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37052 | $68,800 | $111,600 | $171,850 | $255,850 | $340,046 |
Source: Ownwell
Property Tax Bills Across Cunningham, Montgomery County, Tennessee
In Cunningham, Tennessee, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor. The assessed value is a percentage of the property's market value. Homeowners in Cunningham can expect a median property tax bill of $1,252, which aligns with the highest and lowest median tax bills in the area, both recorded in zip code 37052. This amount is influenced by various factors, including property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, Cunningham’s tax rate translates into significant savings for homeowners. For instance, homes in the 25th percentile of tax bills pay around $799, while those in the 75th percentile face tax bills of approximately $1,826. At the 90th percentile, tax bills can reach up to $2,433. These taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the community’s quality of life.
Average Cunningham Tax Bill
$1,252
Average Montgomery County Tax Bill
$1,610
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Cunningham, Montgomery County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37052 | $507 | $799 | $1,252 | $1,826 | $2,433 |
Source: Ownwell