Milan, Carroll County, Tennessee Property Taxes

Name: Property Tax Bills Across Milan, Carroll County, Tennessee
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Milan, TN effective property tax rate: 0.66%, significantly lower than the national median of 1.02%, but higher than the Tennessee state median of 0.64%.
Median Milan, TN home value: $72,900
Median annual Milan, TN tax bill: $480, $1,920 lower than the national median property tax bill of $2,400.

How are property taxes in Carroll County calculated?

Property taxes in Milan, TN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Milan’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Milan, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Milan, Carroll County, Tennessee Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.66%

Estimate Property Tax Bill

$481

$446

Ownwell’s Milan Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Milan with just two data points. By entering your property's estimated assessed value, our calculator applies Milan’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Gibson County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Milan, Carroll County, Tennessee

Local government entities determine tax rates, which can vary significantly within Tennessee. Each year, counties assess their budgetary needs for public services and divide that by the total assessed value of all taxable properties within their boundaries. This calculation establishes the property tax rate. Though votes and legislation play a role in setting these rates and budgets, this is the core of the annual process. In Milan, Carroll County, the effective property tax rate stands out when compared to other cities in Tennessee. The median property tax rate in Tennessee is 0.66%, noticeably lower than the national median of 1.02%. This means homeowners in Milan could potentially benefit from lower property tax bills compared to the national average. While these rates are subject to change based on budgetary adjustments and legislative decisions, understanding how they are calculated can help property owners anticipate their tax obligations. By comparing Milan's rates to state and national figures, homeowners can gain insight into how their property taxes stack up regionally and nationally.

Property Tax Rates Across Milan, Carroll County, Tennessee

Source: Ownwell

0.65%

0.94%

1.23%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Milan Tax Rate

0.66%

Median Effective Carroll County Tax Rate

0.66%

Median Effective Tennessee Tax Rate

0.64%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Milan, Carroll County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
38358	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Milan, Carroll County, Tennessee

When examining property taxes in Milan, Tennessee, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Carroll County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Carroll County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Milan.

For example, the median home price in Milan is $72,900, with tax bills ranging significantly across the county. This amount is considerably lower than the national median, offering potential savings for homeowners in the area.

Property Tax Assessment Values Across Milan, Carroll County, Tennessee

Source: Ownwell

$58,400

$72,125

$85,850

Median Milan Market Value

$72,900

Median Carroll County Market Value

$76,800

Median Tennessee Market Value

$173,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Milan, Carroll County, Tennessee

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
38358	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Milan, Carroll County, Tennessee

In Milan, Carroll County, TN, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, and the local tax rate is applied to this assessed value to determine the tax bill. For homeowners in Milan, the median home price is $72,900, with property tax bills ranging from $322 at the 25th percentile to $772 at the 90th percentile. This demonstrates a significant variation in tax bills, which can impact a homeowner's budget. With the national median property tax bill at $2,400, Milan homeowners may find their taxes more manageable, but there is still potential for savings. Ownwell offers expertise in property tax appeals and exemption services, helping homeowners ensure their property is fairly assessed. By reviewing assessments and identifying potential discrepancies, Ownwell can help reduce property tax bills, ultimately saving homeowners money and providing peace of mind.

Property Tax Bills Across Milan, Carroll County, Tennessee

Source: Ownwell

$447

$566

$685

Median Milan Tax Bill

$480

Median Carroll County Tax Bill

$574

Median Tennessee Tax Bill

$1,206

Median United States Tax Bill

$2,400

Property Tax Bills Across Milan, Carroll County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
38358	N/A	N/A	N/A	N/A	N/A

Source: Ownwell