Oliver Springs, Morgan County, Tennessee Property Taxes

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

Median Oliver Springs, TN effective property tax rate: 0.68%, significantly lower than the national median of 1.02%, but higher than the Tennessee state median of 0.64%. Median Oliver Springs, TN home value: $82,350. Median annual Oliver Springs, TN tax bill: $564, $1,836 lower than the national median property tax bill of $2,400.

How are property taxes in Morgan County calculated?

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

Last Updated March 1, 2025

Oliver Springs, Morgan County, Tennessee Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.68%

Estimate Property Tax Bill

$560

$520

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

Property Tax Rates Across Oliver Springs, Morgan County, Tennessee

Local government entities set tax rates, which can vary widely within a state. This variation is due to the fact that each county estimates its required budget annually to provide essential services. They then divide this budget by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these tax rates and budgets, this is the fundamental process followed each year.

In Oliver Springs, located in Morgan County, the effective property tax rate is a reflection of these calculations. Compared to other cities in Tennessee, Oliver Springs' property tax rate is notably lower than the national median property tax rate of 1.02%. This makes it an attractive location for property owners looking to minimize their tax liabilities. The median property tax rate in Tennessee is also below the national average, offering a favorable environment for homeowners. Oliver Springs stands out with its competitive rate, providing an opportunity for potential savings when compared to other regions in the state and across the country.

Property Tax Rates Across Oliver Springs, Morgan County, Tennessee

Source: Ownwell

0.68%

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 Oliver Springs Tax Rate

0.68%

Median Effective Morgan County Tax Rate

0.68%

Median Effective Tennessee Tax Rate

0.64%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Oliver Springs, Morgan County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
37840	0.68%	0.68%	0.68%	0.68%	0.68%

Source: Ownwell

Property Tax Assessment Values Across Oliver Springs, Morgan County, Tennessee

When examining property taxes in Oliver Springs, 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 Morgan 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 Morgan 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 Oliver Springs.

For example, the median home price in Oliver Springs is $82,350, with tax bills ranging significantly across the county. ZIP code 37840 has the highest median home price at $82,350.

Property Tax Assessment Values Across Oliver Springs, Morgan County, Tennessee

Source: Ownwell

$43,300

$118,525

$193,750

Median Oliver Springs Market Value

$82,350

Median Morgan County Market Value

$87,650

Median Tennessee Market Value

$173,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Oliver Springs, Morgan County, Tennessee

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
37840	$18,800	$43,725	$82,350	$135,575	$200,800

Source: Ownwell

Property Tax Bills Across Oliver Springs, Morgan County, Tennessee

In Oliver Springs, located in Morgan County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price here is $82,350, significantly lower than the national median. The tax bill ranges from the 25th percentile at $302 to the 90th percentile at $1,389, indicating variability based on property characteristics and location within the city. With a median property tax bill of $564, Oliver Springs homeowners pay considerably less than the national median of $2,400. However, these taxes can still be a burden for some homeowners. Various factors, including property improvements and changes in local tax rates, can affect the tax bill. Ownwell assists homeowners in Oliver Springs by identifying potential savings through property tax appeals and exemptions. By leveraging local expertise, Ownwell ensures that property assessments are fair, potentially reducing the tax burden and helping homeowners keep more money in their pockets.

Property Tax Bills Across Oliver Springs, Morgan County, Tennessee

Source: Ownwell

$293

$805

$1,317

Median Oliver Springs Tax Bill

$564

Median Morgan County Tax Bill

$603

Median Tennessee Tax Bill

$1,206

Median United States Tax Bill

$2,400

Property Tax Bills Across Oliver Springs, Morgan County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
37840	$135	$302	$564	$933	$1,389

Source: Ownwell