Carrollton, Tennessee Property Taxes
The median property tax rate in Carrollton, TN is 0.63%, slightly below the Tennessee state median of 0.64% and well under the national median of 0.99%. With a median home value of $16,500 in Carrollton, the typical annual property tax bill is $104, significantly lower than the national median of $2,690. Property taxes in Carrollton are determined based on the assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Carrollton's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve notable annual savings. Whether you're located in the heart of Carrollton or in another part of Polk County, a thorough grasp of the local property tax nuances can provide substantial financial benefits.
Last Updated June 14, 2024
Carrollton, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Carrollton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Carrollton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carrollton 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 Carrollton, Tennessee
Property taxes in Carrollton, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carrollton is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Carrollton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carrollton 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 Carrollton's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 30116 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Carrollton 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 Carrollton 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 Carrollton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30116 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Carrollton, Tennessee
In Carrollton, 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 Carrollton, 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 Carrollton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Carrollton are both $104, found in the 30116 zip code.
Average Carrollton Assessed Value
$16,500
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 Carrollton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30116 | $16,500 | $16,500 | $16,500 | $16,500 | $16,500 |
Source: Ownwell
Property Tax Bills Across Carrollton, Tennessee
In Carrollton, TN, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Unlike many regions, Carrollton's property tax rates are relatively low, with a median tax bill of $104. This figure is significantly below the national median property tax rate of 0.99%. Factors influencing the tax bill include the property's assessed value, which is influenced by market conditions and any improvements made to the property. Homeowners in Carrollton benefit from these lower rates, which can make homeownership more affordable compared to other regions. However, it's important to note that even slight changes in the assessed value or tax rate can affect the overall tax bill. Understanding how these elements interact helps homeowners better anticipate their annual property tax obligations.
Average Carrollton Tax Bill
$104
Average Polk County Tax Bill
$310
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Carrollton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30116 | $104 | $104 | $104 | $104 | $104 |
Source: Ownwell