Arrington, Tennessee Property Taxes
The median property tax rate in Arrington, TN is 0.47%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $422,200 in Arrington, the typical annual property tax bill amounts to $1,989, well below the national median of $2,690. Property taxes in Arrington are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Arrington'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 Arrington or another part of Rutherford County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Arrington, 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 Arrington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arrington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arrington 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 Arrington, Tennessee
Property taxes in Arrington, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arrington is 0.47%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Arrington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arrington 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 Arrington's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37014 zip code has the highest median property tax rate of 0.47%, while the 37014 zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Arrington provides valuable insights into the varying tax landscape across Rutherford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arrington Tax Rate
0.47%
Average Rutherford County Tax Rate
0.60%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arrington, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37014 | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Arrington, Tennessee
In Arrington, 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 Rutherford 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 Arrington, 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 Arrington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with both the highest and lowest median tax bill in Arrington is 37014, with a median tax bill of $1989.
Average Arrington Assessed Value
$422,200
Average Rutherford County Assessed Value
$316,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arrington, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37014 | $221,960 | $310,500 | $422,200 | $606,700 | $844,820 |
Source: Ownwell
Property Tax Bills Across Arrington, Tennessee
In Arrington, located in Rutherford County, TN, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The median home price in the area is $422,200. The assessed value is then multiplied by the local tax rate to calculate the property tax bill. Factors such as property size, location, and any improvements made to the property can influence the assessed value. For homeowners in Arrington, property tax bills can vary significantly. At the 25th percentile, the tax bill is around $1,470, while at the 75th percentile, it rises to approximately $3,010. The highest tax bills, at the 90th percentile, can reach $4,049. The median tax bill in the area, represented by the zip code 37014, is $1,989, which is below the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Arrington Tax Bill
$1,989
Average Rutherford County Tax Bill
$1,892
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Arrington, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37014 | $1,009 | $1,470 | $1,989 | $3,010 | $4,049 |
Source: Ownwell