Clifton, Tennessee Property Taxes
The median property tax rate in Clifton, TN is 0.57%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Clifton at $116,800, the typical annual property tax bill amounts to $671, which is well below the national median of $2,690. Property taxes in Clifton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Clifton'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 Clifton 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
Clifton, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$666
Ownwell’s Clifton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clifton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clifton 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 Clifton, Tennessee
Property taxes in Clifton, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clifton is 0.57%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Clifton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clifton 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 Clifton's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38425 zip code has the highest median property tax rate of 0.57%, while the same 38425 zip code also has the lowest median tax rate of 0.57%. Understanding how these cities compare with Clifton provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clifton Tax Rate
0.57%
Average Perry County Tax Rate
0.57%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clifton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38425 | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Clifton, Tennessee
In Clifton, 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 Perry 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 Clifton, 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 Clifton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Clifton are both $671.00, found in the 38425 zip code.
Average Clifton Assessed Value
$116,800
Average Perry County Assessed Value
$74,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clifton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38425 | $38,100 | $63,700 | $116,800 | $185,950 | $267,900 |
Source: Ownwell
Property Tax Bills Across Clifton, Tennessee
In Clifton, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Clifton can expect their tax bills to vary, influenced by several key factors, including the home's assessed value and the local tax rate. For instance, the median home price in Clifton is $116,800. The tax bill for properties in the 25th percentile is around $366, while those in the 75th percentile see tax bills closer to $1,068. At the 90th percentile, homeowners could face tax bills as high as $1,538. The highest median tax bill in the area is $671, found in the 38425 zip code, which also represents the lowest median tax bill. Comparatively, the national median property tax rate is 0.99%, making Clifton's rates relatively moderate. These tax bills significantly impact homeowners' annual budgets, influencing decisions on property investments and financial planning. Understanding these factors can help homeowners better anticipate their property tax obligations.
Average Clifton Tax Bill
$671
Average Perry County Tax Bill
$432
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Clifton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38425 | $219 | $366 | $671 | $1,068 | $1,538 |
Source: Ownwell