Mercer, Madison County, Tennessee Property Taxes
Median Mercer, TN effective property tax rate: 0.47%, significantly lower than the national median of 1.02%, but lower than the Tennessee state median of 0.64%.
Median Mercer, TN home value: $48,350
Median annual Mercer, TN tax bill: $226, $2,174 lower than the national median property tax bill of $2,400.
How are property taxes in Madison County calculated?
Property taxes in Mercer, 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 Mercer’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mercer, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mercer, Madison County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.47%
Estimate Property Tax Bill
$227
$211
Property Tax Rates Across Mercer, Madison County, Tennessee
Local government entities are responsible for setting tax rates, which can vary widely within a state. Each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is the annual process in a nutshell.
In Mercer, located in Madison County, TN, the effective property tax rate is 0.47%. This rate stands out when compared to the national median property tax rate of 1.02%. Homeowners in Mercer benefit from lower property tax rates than the national average, which can be appealing for those considering relocation or investment. In contrast, the national median property tax bill is $2,400, indicating that residents in Mercer might experience lower tax bills. Understanding these differences can help property owners make informed decisions about their investments and financial planning.
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 Mercer Tax Rate
0.47%
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 Madison County Tax Rate
0.87%
Median Effective Tennessee Tax Rate
0.64%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mercer, Madison County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38392 | 0.47% | 0.47% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Mercer, Madison County, Tennessee
When examining property taxes in Mercer, 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 Madison 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 Madison 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 Mercer.
For example, the median home price in Mercer is $48,350, with tax bills ranging significantly across the county. Zip code 38392 has the highest median home price at $48,350.
Property Tax Assessment Values Across Mercer, Madison County, Tennessee
Source: Ownwell
$43,800
$120,300
$196,800
Median Mercer Market Value
$48,350
Median Madison County Market Value
$135,000
Median Tennessee Market Value
$173,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mercer, Madison County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38392 | $4,500 | $12,300 | $48,350 | $116,050 | $169,060 |
Source: Ownwell
Property Tax Bills Across Mercer, Madison County, Tennessee
Median Mercer Tax Bill
$226
Median Madison County Tax Bill
$848
Median Tennessee Tax Bill
$1,206
Median United States Tax Bill
$2,400
Property Tax Bills Across Mercer, Madison County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38392 | $21 | $58 | $226 | $530 | $792 |
Source: Ownwell
