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Hamilton County Tennessee Property Taxes – What You Need to Know

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Hamilton County Tennessee property taxes are used to fund items like roads, police and fire support, public libraries, local school systems and local governments.

Like in most states, the amount of Hamilton County Tennessee property taxes you’ll pay is dependent upon two factors: the value of your home and the millage rate. The local tax assessor will estimate the value of your home and send you a notice regarding the fair market value of your home.

Then, when the budget is created, the tax department will use the combined property values for the area along with the revenue requirements to meet the upcoming budget to determine the millage rate. In most cases, the millage rate is based on 25% of the fair market value, rather than the full fair market value on a residential property. Commercial properties are taxed at 40% of the fair market value. Counties and cities must hold a public meeting before the millage rate can be raised, but it can be lowered at any time.

Tennessee ranks 40th among the states in terms of the amount of property taxes paid by its residents. The average homeowner in Tennessee owns a home that is worth $114,000 and pays about $794 a year in Tennessee property taxes.

If you receive a notice from the tax assessor informing you of his determination of the fair market value of your home and you think it’s too high, you can appeal his valuation. Once you file your appeal, you’ll be given a hearing where you’ll be allowed to explain why you think the valuation of your home was too high. In turn, the tax assessor will explain how he arrived at his figure. If it is determined that your tax value is too high, you may receive a reduction in Hamilton County Tennessee property taxes owed. Your property will be reappraised for tax purposes every six years, but this does not necessarily mean your taxes will be raised, even if your property value is higher.

Tennessee law does not require that tax notices be mailed indicating the amount of taxes due.  Owners of property are presumed to know that Hamilton County Tennessee property taxes are due without personal notice.  Failure to receive a tax bill does not relieve the taxpayer of responsibility of payment, nor is this a reason for interest and penalty charges to be dismissed if the Hamilton county Tennessee property tax bill becomes delinquent.

Unlike most other states, Tennessee does not offer a homestead exemption for homeowners. This is likely because the state does not have income tax on salaries and wages, though income from stocks and bonds is taxed at a flat 6%. However, there are some property tax exemptions available in Tennessee, but they are available only for the elderly, the disabled and veterans


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