Mount Juliet, Tennessee Property Taxes
The median property tax rate in Mount Juliet, TN is 0.47%, which is significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Mount Juliet at $477,650, the typical annual property tax bill amounts to $2,147, falling below the national median of $2,690. Property taxes in Mount Juliet are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Mount Juliet's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mount Juliet or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Juliet, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$2,245
$2,083
Ownwell’s Mount Juliet Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Juliet with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Juliet 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 Mount Juliet, Tennessee
Property taxes in Mount Juliet, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Juliet is 0.47%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Mount Juliet set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Juliet 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 Mount Juliet's effective property tax rate to other counties in Tennessee and the national median. For comparison, the highest median property tax rate in the area is also 0.47%, found in the zip code 37122, while the lowest median tax rate is the same at 0.47%, also in the zip code 37122. Understanding how these cities compare with Mount Juliet 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 Mount Juliet 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 Mount Juliet, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37122 | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Mount Juliet, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mount Juliet, Tennessee. 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 Mount Juliet, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mount Juliet is $477,650, with the highest and lowest median tax bill being $2,147 in the 37122 zip code.
Property Tax Assessment Values Across Mount Juliet, Tennessee
Source: Ownwell
$249,800
$367,450
$485,100
Average Mount Juliet Assessed Value
$477,650
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 Mount Juliet, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37122 | $249,950 | $330,375 | $477,650 | $634,375 | $771,000 |
Source: Ownwell
Property Tax Bills Across Mount Juliet, Tennessee
In Mount Juliet, located in Rutherford County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value. For instance, a home with a median price of $477,650 can see tax bills ranging from $1,500 at the 25th percentile to $3,608 at the 90th percentile. The highest and lowest median tax bills in the area are both $2,147, highlighting a relatively stable tax environment. Compared to the national median property tax rate of 0.99%, homeowners in Mount Juliet benefit from a more predictable tax landscape, which can affect their financial planning and long-term investment decisions. Understanding these factors can help homeowners manage their expenses and anticipate future tax obligations.
Average Mount Juliet Tax Bill
$2,147
Average Rutherford County Tax Bill
$1,892
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Juliet, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37122 | $1,160 | $1,500 | $2,147 | $2,960 | $3,608 |
Source: Ownwell