Property Taxes in Tennessee
Tennessee's effective property tax rate is 0.49%, ranking #9 out of 50 states (1 = lowest). The median annual property tax paid is $1,317.
Tennessee's property tax rates are below the national average, with the state assessing residential property at 25% of appraised value. Local tax rates are set by counties and cities, with Davidson County (Nashville) having higher rates than rural counties. Tennessee does not offer a traditional homestead exemption for the general population, but property tax relief is available for seniors 65+ with household income below $31,890, for disabled homeowners, and for disabled veterans. The state's low property taxes, combined with no income tax, make Tennessee's total tax burden among the lowest in the country.
By BuyAHomeIn Editorial | Updated 2026-03-02 | Sources: Tax Foundation, U.S. Census
Tax Rate
0.49%
Median Annual Tax
$1,317
National Rank
#9 of 50
1 = lowest
Homestead Exemption
Yes
Annual Property Tax by Home Price
| Home Price | Annual Tax | Monthly |
|---|---|---|
| $200,000 | $980 | $82 |
| $300,000 | $1,470 | $123 |
| $400,000 | $1,960 | $163 |
| $500,000 | $2,450 | $204 |
| $750,000 | $3,675 | $306 |
* Based on the average effective rate of 0.49%. Actual rates vary by county and municipality.
Homestead Exemption in Tennessee
Up to $5,000
File for the homestead exemption after purchasing your primary residence in Tennessee to reduce your assessed property value, lowering your annual tax bill. Contact your county assessor's office for the application.
How Tennessee Compares
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