Deer Lodge, Tennessee Property Taxes
The median property tax rate in Deer Lodge, TN is 0.68%, slightly higher than the state median of 0.64% but below the national median of 0.99%. With a median home value of $82,800 in Deer Lodge, the typical annual property tax bill amounts to $561, which is significantly lower than the national median of $2,690. Property taxes in Deer Lodge are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Deer Lodge'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 Deer Lodge 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
Deer Lodge, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$563
$522
Ownwell’s Deer Lodge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Deer Lodge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deer Lodge 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 Deer Lodge, Tennessee
Property taxes in Deer Lodge, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Deer Lodge is 0.68%, lower than the U.S. national median of 0.99%. Local government entities within Deer Lodge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Deer Lodge 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 Deer Lodge's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37726 has the same median property tax rate of 0.68%. Understanding how these areas compare with Deer Lodge provides valuable insights into the varying tax landscape across Morgan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Deer Lodge Tax Rate
0.68%
Average Morgan County Tax Rate
0.68%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deer Lodge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37726 | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Deer Lodge, Tennessee
In Deer Lodge, 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 local 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 Deer Lodge, 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. For instance, in the 37726 zip code, the median tax bill is $561. Being aware of these valuation processes in Deer Lodge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Deer Lodge Assessed Value
$82,800
Average Morgan County Assessed Value
$87,650
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Deer Lodge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37726 | $23,300 | $43,650 | $82,800 | $150,750 | $240,440 |
Source: Ownwell
Property Tax Bills Across Deer Lodge, Tennessee
In Deer Lodge, located in Morgan County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $82,800. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the property's location, size, and any improvements made can influence its assessed value. For homeowners in Deer Lodge, tax bills can vary significantly. The 25th percentile tax bill is around $295, while the 75th percentile reaches up to $1,026. At the 90th percentile, homeowners might see tax bills as high as $1,654. These figures indicate a range of property tax burdens, reflecting the diverse property values within the area. With Morgan County's median tax bill at $561, it is notably lower than the national median property tax rate of 0.99%, offering some relief for local homeowners. Understanding these factors helps residents anticipate their annual property tax obligations.
Average Deer Lodge Tax Bill
$561
Average Morgan County Tax Bill
$603
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Deer Lodge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37726 | $150 | $295 | $561 | $1,026 | $1,654 |
Source: Ownwell