Millersville, Tennessee Property Taxes
The median property tax rate in Millersville, TN is 0.81%, lower than the national median of 0.99% but higher than the Tennessee state median of 0.64%. With a median home value of $140,100 in Millersville, the typical annual property tax bill amounts to $1,066, which is below the national median of $2,690. Property taxes in Millersville are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Millersville'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 Millersville or another part of Sumner County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Millersville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$1,135
Ownwell’s Millersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millersville 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 Millersville, Tennessee
Property taxes in Millersville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millersville is 0.81%, lower than the U.S. national median of 0.99%. Local government entities within Millersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millersville 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 Millersville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37072 has both the highest and lowest median property tax rate of 0.81%. Understanding how these cities compare with Millersville provides valuable insights into the varying tax landscape across Sumner County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Millersville Tax Rate
0.81%
Average Sumner County Tax Rate
0.76%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millersville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37072 | 0.74% | 0.81% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Millersville, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Millersville, 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 Sumner 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 Millersville, 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 Millersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 37072 has both the highest and lowest median tax bill at $1,066, which is below the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Millersville, Tennessee
Source: Ownwell
$127,500
$210,100
$292,700
Average Millersville Assessed Value
$140,100
Average Sumner County Assessed Value
$246,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Millersville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37072 | $130,760 | $131,000 | $140,100 | $174,400 | $202,960 |
Source: Ownwell
Property Tax Bills Across Millersville, Tennessee
In Millersville, located in Sumner 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 Millersville is $140,100. Property taxes are assessed at a rate determined by local tax authorities, which can vary within the county. For instance, the tax bill for a home in the 25th percentile is $1,062, while it rises to $1,418 for homes in the 75th percentile and $1,650 for those in the 90th percentile. Factors influencing the tax bill include the home's location, assessed value, and applicable exemptions or deductions. These taxes fund essential local services such as schools, emergency services, and infrastructure. Homeowners in Millersville might notice that their property tax bills are relatively moderate compared to the national median property tax rate of 0.99%, making it a financially appealing area for potential homeowners.
Average Millersville Tax Bill
$1,066
Average Sumner County Tax Bill
$1,839
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Millersville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37072 | $1,004 | $1,062 | $1,066 | $1,418 | $1,650 |
Source: Ownwell