Murfreesboro, Tennessee Property Taxes
The median property tax rate in Murfreesboro, TN is 0.71%, which is lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With the median home value in Murfreesboro at $327,200, the typical annual property tax bill is $2,041, which is below the national median of $2,690. Property taxes in Murfreesboro 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 Murfreesboro'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 Murfreesboro 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
Murfreesboro, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$2,323
Ownwell’s Murfreesboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Murfreesboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Murfreesboro 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 Murfreesboro, Tennessee
Property taxes in Murfreesboro, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Murfreesboro is 0.71%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Murfreesboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Murfreesboro 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. For comparison, the 37130 zip code has the highest median property tax rate of 0.71%, while the 37127 zip code has the lowest median tax rate of 0.47%. Understanding how these areas compare with Murfreesboro 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 Murfreesboro Tax Rate
0.71%
Average Rutherford County Tax Rate
0.60%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Murfreesboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37127 | 0.47% | 0.47% | 0.47% | 0.71% | 0.71% |
| 37128 | 0.47% | 0.47% | 0.71% | 0.71% | 0.71% |
| 37129 | 0.47% | 0.47% | 0.47% | 0.71% | 0.71% |
| 37130 | 0.47% | 0.52% | 0.71% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Murfreesboro, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Murfreesboro, TN. 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. 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. For instance, in Murfreesboro, the zip code 37128 has the highest median tax bill at $2,203, while the zip code 37127 has the lowest median tax bill at $1,828. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Murfreesboro, Tennessee
Source: Ownwell
$249,800
$367,450
$485,100
Average Murfreesboro Assessed Value
$327,200
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 Murfreesboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37127 | $224,320 | $267,050 | $333,600 | $401,800 | $489,080 |
| 37128 | $241,400 | $277,700 | $342,950 | $427,400 | $514,500 |
| 37129 | $222,800 | $266,300 | $333,400 | $434,300 | $544,400 |
| 37130 | $179,000 | $224,700 | $282,000 | $393,300 | $546,000 |
Source: Ownwell
Property Tax Bills Across Murfreesboro, Tennessee
In Murfreesboro, 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 median home price in Murfreesboro stands at $327,200. Local tax authorities then apply the relevant tax rate to this assessed value to determine the annual tax bill. Homeowners in Murfreesboro experience a range of property tax bills, with the 25th percentile at $1,546 and the 75th percentile at $2,706. The 90th percentile reaches as high as $3,364, reflecting the variability based on property values and specific locations within the city. For instance, the highest median tax bill is found in the 37128 zip code at $2,203, while the lowest median tax bill is $1,828 in the 37127 zip code. Compared to the national median property tax rate of 0.99%, Murfreesboro's property tax bills can vary significantly, affecting homeowners differently based on their property's assessed value and location.
Average Murfreesboro Tax Bill
$2,041
Average Rutherford County Tax Bill
$1,892
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Murfreesboro, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37127 | $1,176 | $1,471 | $1,828 | $2,536 | $3,118 |
| 37128 | $1,431 | $1,790 | $2,203 | $2,771 | $3,336 |
| 37129 | $1,152 | $1,415 | $1,950 | $2,699 | $3,330 |
| 37130 | $1,116 | $1,419 | $1,868 | $2,660 | $3,683 |
Source: Ownwell