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Terrie, Home Buyer in 90046

What is the property tax rate in Old Hickory Village 37138? Thanks

Asked by Terrie, 90046 Sat Nov 10, 2007

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Rickie Mcqueen’s answer
There are two tax rate in Nashvile/Davidson County - urban district rate and general district rate . Old Hickory Vilage is in general district. To give you an idea of what property tax would be on a house, a 1518 square foot house I have listed n Old Hickory has a property tax of $1,193 annually. Feel free to call me - 615-738-0401. Peace. Rickie McQueen with Village Real Estate Services
0 votes Thank Flag Link Thu Oct 14, 2010
This is from http://www.nashville.gov:

The Metropolitan Council sets the property tax rate. The 2007 tax rate for Urban Services District is $4.69, and the rate for General Services District is $4.04. Residential property tax is based on the assessed value, which is 25% of the appraised value, and commercial property tax is also based on the assessed value, which is 40% of the total appraised value.

The Villages of Old Hickory fall in the Urban Services District

Property taxes in Tennessee are calculated utilizing the following four components:

1. APPRAISED VALUE
2. ASSESSMENT RATIO
3. ASSESSED VALUE
4. TAX RATE

The APPRAISED VALUE for each taxable property in a county is determined by the county property assessor.

The ASSESSMENT RATIO for the different classes of property is established by state law (residential and farm @ 25% of appraised value, commercial/industrial @ 40% of appraised value).

The ASSESSED VALUE is calculated by multiplying the appraised value by the assessment ratio.

The TAX RATE for each county is set by the county commission based on the amount of monies budgeted to fund the provided services. These tax rates vary depending on the level of services provided and the total value of the county’s tax base. In the Urban Services District its $4.69, which the Villages of Old HIckory fall into.

To calculate the tax on your property, assume you have a house with an APPRAISED VALUE of $100,000. The ASSESSED VALUE is $25,000 (25% of $100,000), and the TAX RATE has been set by your county commission at $4.69 per hundred of assessed value. To figure the tax simply multiply the assessed value ($25,000) by the tax rate (4.69 per hundred dollars assessed).

$25,000 / 100 = 250 x $4.69 = $1172.50
or

($25,000 x .0469 = $1172.50)

for a tax bill of $800.00

here is more info on tax rates in the area: http://www.comptroller.state.tn.us./pa/pahtfytb.htm

Hope that helps!
0 votes Thank Flag Link Mon Nov 12, 2007
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