Mccaysville, Tennessee Property Taxes
The median property tax rate in McCaysville, TN is 0.63%, slightly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in McCaysville, the typical annual property tax bill is $50, significantly below the national median of $2,690. Property taxes in McCaysville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding McCaysville'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 McCaysville 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
Mccaysville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$50
Ownwell’s McCaysville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in McCaysville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McCaysville to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in seeing trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by Polk County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Mccaysville, Tennessee
Property taxes in McCaysville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McCaysville is 0.63%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within McCaysville set these rates annually, and they can vary significantly across different neighborhoods. Each year, McCaysville 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 McCaysville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 30555 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 McCaysville 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 Mccaysville 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 Mccaysville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30555 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Mccaysville, Tennessee
In McCaysville, 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 Polk County Assessor 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 McCaysville, 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 McCaysville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $8,000, with tax bills ranging from $37 at the 25th percentile to $70 at the 90th percentile.
Average Mccaysville Assessed Value
$8,000
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 Mccaysville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30555 | $4,640 | $5,900 | $8,000 | $10,000 | $11,200 |
Source: Ownwell
Property Tax Bills Across Mccaysville, Tennessee
In McCaysville, located in Polk County, TN, property tax bills are calculated based on the assessed value of your home. The assessed value is derived from the market value, which is then multiplied by the assessment ratio set by the state. For homeowners in this area, the median home price stands at $8,000. Once the assessed value is determined, the local tax rate is applied to calculate the annual property tax bill. In McCaysville, the property tax bill can vary significantly. For instance, at the 25th percentile, homeowners pay around $37 annually, while at the 75th percentile, the tax bill increases to approximately $62. At the higher end, in the 90th percentile, homeowners can expect to pay about $70. These property taxes fund essential public services such as schools, emergency services, and infrastructure maintenance. While the tax rates in McCaysville are relatively low compared to the national median property tax rate of 0.99%, they still play a crucial role in maintaining community services and amenities.
Average Mccaysville Tax Bill
$50
Average Polk County Tax Bill
$310
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mccaysville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 30555 | $29 | $37 | $50 | $62 | $70 |
Source: Ownwell