Morrison, Grundy County, Tennessee Property Taxes
Median Morrison, TN effective property tax rate: 0.58%, significantly lower than the national median of 1.02%, but lower than the Tennessee state median of 0.64%.
Median Morrison, TN home value: $82,350
Median annual Morrison, TN tax bill: $451, $1,949 lower than the national median property tax bill of $2,400.
How are property taxes in Grundy calculated?
Property taxes in Morrison, 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 Morrison’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Morrison, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Morrison, Grundy County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.58%
Estimate Property Tax Bill
$478
$443
Property Tax Rates Across Morrison, Grundy County, Tennessee
Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the basic annual process.
In Morrison, located in Grundy County, Tennessee, the effective property tax rate stands at 0.58%. This is notably lower than the national median property tax rate of 1.02%. Comparatively, Morrison's rate is consistent across the county, reflecting a stable tax environment. Homeowners in Morrison benefit from property tax bills that are more affordable than the national median property tax bill of $2,400.
By understanding these rates, Morrison residents can better appreciate the cost-effectiveness of living in their community. The lower property tax rate in Morrison offers a financial advantage, making it an attractive option for homeowners seeking affordability without compromising on essential services.
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 Morrison Tax Rate
0.58%
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 Grundy County Tax Rate
0.60%
Median Effective Tennessee Tax Rate
0.64%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Morrison, Grundy County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37357 | 0.51% | 0.53% | 0.58% | 0.60% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Morrison, Grundy County, Tennessee
When examining property taxes in Morrison, TN, 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 Grundy County appraisal district 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 Grundy 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 Morrison. For example, the median home price in Morrison is $82,350, with tax bills ranging significantly across the county. Zip code 37357 has the highest median home price at $82,350.
Property Tax Assessment Values Across Morrison, Grundy County, Tennessee
Source: Ownwell
$47,600
$93,075
$138,550
Median Morrison Market Value
$82,350
Median Grundy County Market Value
$82,800
Median Tennessee Market Value
$173,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Morrison, Grundy County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37357 | $34,580 | $47,525 | $82,350 | $173,525 | $238,000 |
Source: Ownwell
Property Tax Bills Across Morrison, Grundy County, Tennessee
Median Morrison Tax Bill
$451
Median Grundy County Tax Bill
$512
Median Tennessee Tax Bill
$1,206
Median United States Tax Bill
$2,400
Property Tax Bills Across Morrison, Grundy County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37357 | $186 | $280 | $451 | $928 | $1,264 |
Source: Ownwell