Carthage, Smith County, Tennessee Property Taxes

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

Median Carthage, TN effective property tax rate: 0.43%, significantly lower than the national median of 1.02%, but lower than the Tennessee state median of 0.64%.
Median Carthage, TN home value: $172,850
Median annual Carthage, TN tax bill: $886, $1,514 lower than the national median property tax bill of $2,400.

How are property taxes in Smith County calculated?

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

Last Updated March 1, 2025

Carthage, Smith County, Tennessee Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.43%

Estimate Property Tax Bill

$743

$690

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

Property Tax Rates Across Carthage, Smith County, Tennessee

Local government entities in Tennessee set property tax rates, which can vary significantly across the state. Each year, counties like Smith estimate their required budget to deliver essential services and divide it by the total value of all taxable property within their area. This calculation results in the property tax rate. Although the process involves votes and legislation, this is the core of how rates are determined annually.

In Carthage, located in Smith County, the effective property tax rate is 0.43%. This rate is notably lower than the national median property tax rate of 1.02%. In comparison to other cities in Tennessee, Carthage's rate is consistent, reflecting the unique economic and budgetary needs of the area. The lower rate can offer significant savings for homeowners compared to the national median property tax bill of $2,400. Understanding these differences can help property owners make informed decisions about where to live and invest. By staying informed, residents can better navigate the complexities of property taxation and potentially reduce their tax burden.

Property Tax Rates Across Carthage, Smith County, Tennessee

Source: Ownwell

0.43%

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 Carthage Tax Rate

0.43%

Median Effective Smith County Tax Rate

0.43%

Median Effective Tennessee Tax Rate

0.64%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Carthage, Smith County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
37030	0.43%	0.43%	0.43%	0.64%	0.64%

Source: Ownwell

Property Tax Assessment Values Across Carthage, Smith County, Tennessee

When examining property taxes in Carthage, 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 Smith County Assessor 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 Smith 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 Carthage. For example, the median home price in Carthage is $172,850, with tax bills ranging significantly across the county. 37030 has the highest median home price at $172,850.

Property Tax Assessment Values Across Carthage, Smith County, Tennessee

Source: Ownwell

$115,000

$149,650

$184,300

Median Carthage Market Value

$172,850

Median Smith County Market Value

$164,300

Median Tennessee Market Value

$173,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Carthage, Smith County, Tennessee

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
37030	$49,530	$105,300	$172,850	$251,425	$352,380

Source: Ownwell

Property Tax Bills Across Carthage, Smith County, Tennessee

In Carthage, located in Smith County, TN, property tax bills are determined based on the assessed value of a home, which is a percentage of the market value. The local tax rate is then applied to this assessed value. The median home price in Carthage is $172,850, and the median property tax bill is $886, significantly lower than the national median of $2,400. Factors that influence the tax bill include the property's assessed value and local tax rates. Homeowners in Carthage can face tax bills ranging from the 25th percentile at $538 to the 90th percentile at $1,725. These taxes impact homeowners by contributing to their annual housing costs. Ownwell offers expertise in property tax appeals and exemptions, helping homeowners potentially lower their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell can assist in reducing the assessed value, leading to savings. This service is especially beneficial for those who believe their property is over-assessed, ensuring they pay only their fair share.

Property Tax Bills Across Carthage, Smith County, Tennessee

Source: Ownwell

$498

$713

$928

Median Carthage Tax Bill

$886

Median Smith County Tax Bill

$769

Median Tennessee Tax Bill

$1,206

Median United States Tax Bill

$2,400

Property Tax Bills Across Carthage, Smith County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
37030	$223	$538	$886	$1,298	$1,725

Source: Ownwell