Monterey, Overton County, Tennessee Property Taxes

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

Median MONTEREY, TN effective property tax rate: 0.49%, significantly lower than the national median of 1.02%, but lower than the Tennessee state median of 0.64%.
Median MONTEREY, TN home value: $92,300
Median annual MONTEREY, TN tax bill: $445, $1,955 lower than the national median property tax bill of $2,400.

How are property taxes in Overton calculated?

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

Last Updated March 1, 2025

Monterey, Overton County, Tennessee Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.56%

Estimate Property Tax Bill

$586

$544

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

Property Tax Rates Across Monterey, Overton County, Tennessee

Local government entities set tax rates, which can vary widely within a state. Annually, each county 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, in a nutshell, this is the annual process. Below, you can compare Monterey’s effective property tax rate to other cities in Tennessee and the median property tax rates in Tennessee and the U.S. Monterey, located in Overton County, has a property tax rate that stands at 0.49%. Compared to the national median property tax rate of 1.02%, Monterey's rate is significantly lower, making it an attractive area for property owners seeking relief from high property taxes. The median property tax bill in Monterey is also expected to be well below the national median of $2400, offering further financial benefits to residents. Such favorable tax conditions can be a decisive factor for those considering relocation or investment in the area, highlighting Monterey as a cost-effective choice within Tennessee.

Property Tax Rates Across Monterey, Overton County, Tennessee

Source: Ownwell

0.56%

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 Monterey Tax Rate

0.56%

Median Effective Overton County Tax Rate

0.56%

Median Effective Tennessee Tax Rate

0.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Monterey, Overton County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
38574	0.34%	0.53%	0.56%	0.56%	0.56%

Source: Ownwell

Property Tax Assessment Values Across Monterey, Overton County, Tennessee

When examining property taxes in Monterey, 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 Overton 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 Overton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Monterey.

For example, the median home price in Monterey is $92,300, with tax bills ranging significantly across the county. The zip code 38574 has the highest median home price at $92,300.

Property Tax Assessment Values Across Monterey, Overton County, Tennessee

Source: Ownwell

$68,250

$107,750

$147,250

Median Monterey Market Value

$104,700

Median Overton County Market Value

$113,650

Median Tennessee Market Value

$213,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Monterey, Overton County, Tennessee

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
38574	$25,430	$54,300	$104,700	$179,375	$296,710

Source: Ownwell

Property Tax Bills Across Monterey, Overton County, Tennessee

In Monterey, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Monterey see a range of property tax bills, with the 25th percentile paying around $238 and the 75th percentile paying about $769 annually. The tax bill can reach up to $1,083 for those in the 90th percentile. Compared to the national median property tax rate of 1.02%, Monterey's property taxes are relatively moderate, with the median tax bill in the area being $445. Factors influencing the tax bill include the property's assessed value and the local tax rate set by Overton County. These taxes impact homeowners by affecting their annual expenses and potentially influencing their decision to buy or sell property. Ownwell can assist homeowners by identifying potential savings through property tax appeals and exemptions, ensuring they are not overpaying on their tax bills. By leveraging expertise in property assessments, Ownwell helps clients reduce their tax burden and save money.

Property Tax Bills Across Monterey, Overton County, Tennessee

Source: Ownwell

$317

$540

$762

Median Monterey Tax Bill

$520

Median Overton County Tax Bill

$671

Median Tennessee Tax Bill

$1,126

Median United States Tax Bill

$2,400

Property Tax Bills Across Monterey, Overton County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
38574	$141	$289	$520	$900	$1,356

Source: Ownwell