Lexington, Henderson County, Tennessee Property Taxes
Median Lexington, TN effective property tax rate: 0.59%, significantly lower than the national median of 1.02%, but lower than the Tennessee state median of 0.64%.
Median Lexington, TN home value: $81,300
Median annual Lexington, TN tax bill: $570, $1,830 lower than the national median property tax bill of $2,400.
How are property taxes in Henderson County calculated?
Property taxes in Lexington, 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 Lexington’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lexington, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lexington, Henderson County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.59%
Estimate Property Tax Bill
$480
$445
Property Tax Rates Across Lexington, Henderson County, Tennessee
Local government entities are responsible for setting tax rates, which can significantly differ even within the same state. Each year, counties estimate the budget needed to provide essential services and divide this by the total value of all taxable property within their area, resulting in the property tax rate. Although votes and legislation play roles in determining these rates and budgets, this is essentially the annual process.
In Lexington, located in Henderson County, Tennessee, the effective property tax rate is worth noting. Compared to other cities in Tennessee, Lexington's rate is aligned with the county's highest and lowest median tax rates, which are both 0.59%. This figure is significantly lower than the national median property tax rate of 1.02%. As a result, residents of Lexington enjoy property tax bills that are generally more affordable than those in many other parts of the country, where the median property tax bill is $2,400. This comparison highlights how local tax policies can impact homeowners differently depending on their location, underscoring the importance of understanding property tax dynamics in your area.
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 Lexington Tax Rate
0.59%
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 Henderson County Tax Rate
0.59%
Median Effective Tennessee Tax Rate
0.64%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lexington, Henderson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38351 | 0.59% | 0.59% | 0.59% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Lexington, Henderson County, Tennessee
When examining property taxes in Lexington, 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 Henderson 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 Henderson 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 Lexington.
For example, the median home price in Lexington is $81,300, with tax bills ranging significantly across the county. Zip code 38351 has the highest median home price at $81,300.
Property Tax Assessment Values Across Lexington, Henderson County, Tennessee
Source: Ownwell
$57,250
$85,175
$113,100
Median Lexington Market Value
$81,300
Median Henderson County Market Value
$78,000
Median Tennessee Market Value
$173,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lexington, Henderson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38351 | $15,300 | $42,400 | $81,300 | $136,100 | $218,540 |
Source: Ownwell
Property Tax Bills Across Lexington, Henderson County, Tennessee
Median Lexington Tax Bill
$570
Median Henderson County Tax Bill
$514
Median Tennessee Tax Bill
$1,206
Median United States Tax Bill
$2,400
Property Tax Bills Across Lexington, Henderson County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38351 | $108 | $283 | $570 | $952 | $1,560 |
Source: Ownwell