Marlton, Tennessee Property Taxes
The median property tax rate in Marlton, TN is 1.36%, notably higher than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Marlton, the typical annual property tax bill reaches $271, which is significantly lower than the national median of $2,690. Property taxes in Marlton 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 Marlton'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 Marlton 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
Marlton, 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 Marlton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marlton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marlton 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 Marlton, Tennessee
Property taxes in Marlton, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marlton is 1.36%, significantly higher than the U.S. national median of 0.99%. Local government entities within Marlton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marlton 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 Marlton's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 08053 zip code has both the highest and lowest median property tax rate of 1.36%. Understanding how these cities compare with Marlton provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marlton Tax Rate
1.36%
Average Shelby County Tax Rate
1.52%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marlton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08053 | 1.36% | 1.36% | 1.36% | 1.36% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across Marlton, Tennessee
In Marlton, 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 Shelby 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 Marlton, 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. The median home price in Marlton is $20,000, and the median tax bill stands at $271. The highest and lowest median tax bills are both $271, found in the 08053 zip code. Being aware of these valuation processes in Marlton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marlton Assessed Value
$20,000
Average Shelby County Assessed Value
$147,100
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marlton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08053 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 |
Source: Ownwell
Property Tax Bills Across Marlton, Tennessee
In Marlton, Shelby County, TN, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Homeowners in Marlton can expect their property tax bills to be influenced by several factors, including the local tax rate and any applicable exemptions. For example, with a median home price of $20,000, the property tax bill at the 25th, 75th, and 90th percentiles all stand at $271. This consistency suggests a relatively uniform tax rate across different property values in Marlton. When compared to the national median property tax rate of 0.99%, Marlton’s property tax rate appears to be quite favorable for homeowners. This predictable and relatively low tax bill can have a significant impact on homeowners, making it easier to budget for annual expenses and potentially increasing the attractiveness of the area for new residents. However, it’s essential for homeowners to stay informed about potential changes in property assessments and local tax rates to avoid unexpected increases in their tax bills.
Average Marlton Tax Bill
$271
Average Shelby County Tax Bill
$1,907
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Marlton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 08053 | $271 | $271 | $271 | $271 | $271 |
Source: Ownwell