Cumberland Furnace, Montgomery County, Tennessee Property Taxes

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

Median Cumberland Furnace, TN effective property tax rate: 0.75%, significantly lower than the national median of 1.02%, but higher than the Tennessee state median of 0.64%.
Median Cumberland Furnace, TN home value: $164,900
Median annual Cumberland Furnace, TN tax bill: $1,176, $1,224 lower than the national median property tax bill of $2,400.

How are property taxes in Montgomery calculated?

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

Last Updated March 1, 2025

Cumberland Furnace, Montgomery County, Tennessee Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.75%

Estimate Property Tax Bill

$1,237

$1,148

Ownwell’s Cumberland Furnace Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cumberland Furnace with just two data points. By entering your property's estimated assessed value, our calculator applies Cumberland Furnace’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 Montgomery County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Cumberland Furnace, Montgomery County, Tennessee

Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each year, counties estimate the budget needed to provide essential services and divide this by the total assessed value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While the process involves votes and legislation, this is the basic annual procedure. In Cumberland Furnace, located in Montgomery County, the effective property tax rate stands at 0.75%. This rate is notably lower than the national median property tax rate of 1.02%, and it matches the highest and lowest median tax rates within the region, reflecting a consistent rate across the area. When compared to other cities in Tennessee and the national median, Cumberland Furnace offers a more favorable property tax environment. This lower rate can be an attractive factor for property owners looking to minimize their tax burden while still enjoying the benefits and services provided by the local government.

Property Tax Rates Across Cumberland Furnace, Montgomery County, Tennessee

Source: Ownwell

0.75%

0.90%

1.05%

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 Cumberland Furnace Tax Rate

0.75%

Median Effective Montgomery County Tax Rate

1.05%

Median Effective Tennessee Tax Rate

0.64%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Cumberland Furnace, Montgomery County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
37051	0.67%	0.75%	0.75%	0.75%	0.75%

Source: Ownwell

Property Tax Assessment Values Across Cumberland Furnace, Montgomery County, Tennessee

When examining property taxes in Cumberland Furnace, 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 Montgomery 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 Montgomery 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 Cumberland Furnace. For example, the median home price in Cumberland Furnace is $164,900, with tax bills ranging significantly across the county. Zip code 37051 has the highest median home price at $164,900.

Property Tax Assessment Values Across Cumberland Furnace, Montgomery County, Tennessee

Source: Ownwell

$134,500

$205,075

$275,650

Median Cumberland Furnace Market Value

$164,900

Median Montgomery County Market Value

$172,800

Median Tennessee Market Value

$173,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Cumberland Furnace, Montgomery County, Tennessee

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
37051	$59,650	$91,475	$164,900	$248,800	$324,550

Source: Ownwell

Property Tax Bills Across Cumberland Furnace, Montgomery County, Tennessee

In Cumberland Furnace, Montgomery County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is typically a percentage of the property's estimated market value. Homeowners in Cumberland Furnace encounter property tax bills that range from the 25th percentile at $661 to the 90th percentile at $2299, with the median tax bill being $1176. This is significantly lower than the national median property tax bill of $2400, offering some relief to local homeowners.

However, even with lower bills, ensuring that taxes are fair and accurate is crucial. Factors like changes in market conditions and property improvements can impact the assessed value and, consequently, the tax bill. This is where Ownwell steps in to assist homeowners in Cumberland Furnace. By providing expert property tax appeal and exemption services, Ownwell helps ensure that homeowners are not overpaying on their property taxes, potentially saving them hundreds of dollars annually.

Property Tax Bills Across Cumberland Furnace, Montgomery County, Tennessee

Source: Ownwell

$982

$1,511

$2,040

Median Cumberland Furnace Tax Bill

$1,176

Median Montgomery County Tax Bill

$1,610

Median Tennessee Tax Bill

$1,206

Median United States Tax Bill

$2,400

Property Tax Bills Across Cumberland Furnace, Montgomery County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
37051	$440	$661	$1,176	$1,798	$2,299

Source: Ownwell