Murfreesboro, Tennessee Property Taxes
The median property tax rate in Murfreesboro, TN is 0.48%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Murfreesboro at $135,550, the typical annual property tax bill reaches $647, significantly 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
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Murfreesboro Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Murfreesboro using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Murfreesboro to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in examining trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Wilson County for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Murfreesboro, Tennessee
Property taxes in Murfreesboro, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Murfreesboro is 0.48%, which is lower than both the Tennessee state median and 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. The data below compares Murfreesboro's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37129 zip code has the highest median property tax rate of 0.72%, while the 37130 zip code has the lowest median tax rate of 0.48%. Understanding how these cities compare with Murfreesboro provides valuable insights into the varying tax landscape across Wilson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Murfreesboro Tax Rate
0.48%
Average Wilson County Tax Rate
0.50%
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 |
|---|---|---|---|---|---|
| 37128 | N/A | N/A | N/A | N/A | N/A |
| 37129 | 0.72% | 0.72% | 0.72% | 0.72% | 0.72% |
| 37130 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Murfreesboro, Tennessee
In Murfreesboro, 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 Wilson 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 Murfreesboro, 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. For instance, the highest median tax bill in Murfreesboro is $2,057 in the 37129 zip code, while the lowest is $647 in the 37130 zip code. 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 Murfreesboro 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
$116,700
$445,300
$773,900
Average Murfreesboro Assessed Value
$135,550
Average Wilson County Assessed Value
$285,400
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 |
|---|---|---|---|---|---|
| 37128 | N/A | N/A | N/A | N/A | N/A |
| 37129 | $284,500 | $284,500 | $284,500 | $284,500 | $284,500 |
| 37130 | $66,470 | $92,375 | $135,550 | $178,725 | $204,630 |
Source: Ownwell
Property Tax Bills Across Murfreesboro, Tennessee
In Murfreesboro, 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. Various factors influence this calculation, including the property's location, size, and market conditions. For instance, in Wilson County, where Murfreesboro is located, the median home price is $135,550. Homeowners in the 25th percentile can expect a tax bill around $183, while those in the 75th percentile might see bills closer to $1,308. At the 90th percentile, tax bills can reach up to $1,758. The highest median tax bill in the area is $2,057 in the 37129 zip code, while the lowest is $647 in the 37130 zip code. These tax bills impact homeowners by influencing their overall housing costs, potentially affecting decisions on buying, selling, or renovating properties. Compared to the national median property tax rate of 0.99%, Murfreesboro's rates offer a varied landscape for homeowners.
Average Murfreesboro Tax Bill
$647
Average Wilson County Tax Bill
$1,525
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 |
|---|---|---|---|---|---|
| 37128 | N/A | N/A | N/A | N/A | N/A |
| 37129 | $2,057 | $2,057 | $2,057 | $2,057 | $2,057 |
| 37130 | $317 | $441 | $647 | $853 | $977 |
Source: Ownwell