Athens, Tennessee Property Taxes
The median property tax rate in Athens, TN is 0.63%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value in Athens of $61,100, the typical annual property tax bill is $384, significantly below the national median of $2,690. Property taxes in Athens 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 Athens' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Athens or another part of Polk County, comprehending the local property tax system can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Athens, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$385
$357
Ownwell’s Athens Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Athens with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Athens 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 Athens, Tennessee
Property taxes in Athens, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Athens is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Athens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Athens 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 Athens's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37303 zip code has the highest median property tax rate of 0.63%, while the 37303 zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Athens provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Athens Tax Rate
0.63%
Average Polk County Tax Rate
0.63%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Athens, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37303 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Athens, Tennessee
In Athens, Tennessee, understanding the difference between "market value" and "assessed value" is essential for comprehending property taxes. The market value represents 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 Polk 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 Athens, 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 and lowest median tax bills in Athens are both $384, found in zip code 37303. Being aware of these valuation processes in Athens helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Athens Assessed Value
$61,100
Average Polk County Assessed Value
$48,850
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Athens, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37303 | $61,100 | $61,100 | $61,100 | $61,100 | $61,100 |
Source: Ownwell
Property Tax Bills Across Athens, Tennessee
In Athens, TN, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate set by Polk County. For example, with a median home price of $61,100, homeowners in Athens can expect their tax bill to be around $384, which aligns with the 25th, 75th, and 90th percentiles in the area. This uniformity in tax bills indicates a consistent tax rate applied across various property values within the city. Factors influencing the tax bill include the property's assessed value, which can be affected by market conditions and any improvements made to the property. Compared to the national median property tax rate of 0.99%, Athens offers a relatively lower tax burden, making it an attractive location for homeowners. Understanding these factors can help homeowners anticipate their annual expenses and plan their finances accordingly.
Average Athens Tax Bill
$384
Average Polk County Tax Bill
$310
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Athens, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37303 | $384 | $384 | $384 | $384 | $384 |
Source: Ownwell