Example of Davidson County Property Tax Calculation
Davidson County calculates property taxes based on the assessed value of the property. The assessment is determined by the county's tax assessors and is equal to 25% of the property's fair market value.
For example, if a property has a fair market value of $200,000, the assessed value would be $50,000 (25% of $200,000).
Next, the tax rate is applied to the assessed value to determine the amount of property tax owed. The current tax rate for Davidson County is $2.755 per $100 of assessed value.
Using the previous example of a property with an assessed value of $50,000, the property tax owed would be calculated as follows:
$50,000 รท $100 = 500 (number of $100 increments in assessed value) 500 x $2.755 = $1,377.50 (total property tax owed)
Therefore, a property with a fair market value of $200,000 in Davidson County would owe $1,377.50 in property taxes for the year.
If you want appeal your property tax assessment - contact your local tax assessor.
Davidson County Property Tax Rates
The table below shows the current property tax rates in Davidson County, Tennessee, expressed as the rate per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Metropolitan Government | $4.5168 |
| General Services District | $2.7556 |
| Urban Services District | $2.7647 |
| Hospital District | $0.2229 |
| Transit Authority | $0.2385 |
It is important to note that property tax rates may vary from year to year and are subject to change based on local government decisions. As a tax advisor, it is recommended to stay up-to-date on any changes to these rates in order to provide the most accurate information to clients.
Who sets property tax rates in Davidson County ?
Property Tax Rates in Davidson County, USA
In Davidson County, property tax rates are set by the local government. The local government in Davidson County responsible for setting property tax rates is the Metropolitan Nashville-Davidson County Council. This council meets annually to review and set property tax rates for the county.
The property tax rates set by the council are based on the assessed value of the property. The assessed value of the property is determined by the Davidson County Property Assessor's Office. The office assesses the value of the property and then provides this information to the council to set the property tax rates.
The property tax rates in Davidson County are used to fund local services such as schools, roads, and public safety. These rates are reviewed annually to ensure that they are sufficient to fund the necessary services provided by the local government.
Overall, property tax rates in Davidson County are set by the Metropolitan Nashville-Davidson County Council based on the assessed value of the property. This ensures that the necessary services provided by the local government are funded by the property owners in the county.
Homestead exemptions in Davidson County ?
In Davidson County, North Carolina, there are a range of Homestead exemptions and deductions available to homeowners. These exemptions and deductions can help reduce the overall property tax burden for eligible homeowners. Here are the details of the exemptions and deductions available in Davidson County:
Homestead Exemptions
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Elderly or Disabled Exemption | Age 65 or older, or totally and permanently disabled | Up to $25,000 | Must apply with the county assessor |
| Disabled Veteran Exemption | Honorably discharged disabled veteran with 100% permanent and total disability related to their service | Up to $45,000 | Must apply with the county assessor |
| Surviving Spouse of a Veteran Exemption | Spouse of a deceased veteran who was eligible for the disabled veteran exemption | Up to $45,000 | Must apply with the county assessor |
Deductions
| Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Property Tax Relief for Elderly or Disabled | Age 65 or older, or totally and permanently disabled | 50% of the appraised value of their residence | Must apply annually with the county assessor |
| Property Tax Homestead Circuit Breaker | Property owners with income less than $31,500 | Limits property taxes to 4% of income | Must apply annually with the county assessor |
| Property Tax Witness Protection Deduction | Individuals participating in witness protection programs | Up to $25,000 | Must apply with the county assessor |
It is important to note that each of these exemptions and deductions have specific eligibility criteria and application procedures. Homeowners who believe they may be eligible should contact the Davidson County Assessor's Office for more information and guidance on applying.
When is Davidson County Property Tax due ?
Davidson County Property Tax is typically due on February 28th of each year. However, taxpayers can pay their property taxes in installments. The first half of the property tax is due on the last day of February, while the second half is due on the last day of August.
There are several payment methods available for taxpayers to pay their property taxes. These include:
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Online payment: Taxpayers can pay their property taxes online by visiting the official website of the Davidson County Trustee's Office. They can use their credit/debit card or e-check to make the payment.
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In-person payment: Taxpayers can also pay their property taxes in person by visiting the Davidson County Trustee's Office. They can pay using cash, check, or money order.
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Mail-in payment: Taxpayers can also mail their property tax payment to the Davidson County Trustee's Office. They can use a check or money order to make the payment.
It is important to note that late property tax payments will result in penalties and interest charges. Therefore, it is recommended that taxpayers pay their property taxes on time to avoid these extra charges.
If you have more questions - contact your local tax collector.
How is Davidson County Property Tax penalty calculated ?
Davidson County Property Tax Penalty Calculation:
When a property owner fails to pay their property tax by the due date, they will be charged a penalty. The penalty is calculated as a percentage of the unpaid taxes and accrues on a monthly basis until the taxes are paid in full.
The penalty rate varies depending on the time of year the taxes are paid. Here's how it works:
- First Month Penalty: If the taxes are not paid by the due date, a penalty of 1.5% will be applied to the unpaid taxes for the first month.
- Second Month Penalty: If the taxes are still not paid after one month, an additional penalty of 1.5% will be applied to the unpaid taxes for the second month.
- Third Month Penalty: If the taxes are not paid after two months, another penalty of 1.5% will be applied to the unpaid taxes for the third month.
- Fourth Month Penalty: If the taxes are not paid after three months, a penalty of 10% will be applied to the total unpaid taxes (including any previously assessed penalties).
Example:
Let's say a property owner in Davidson County owes $2,000 in property taxes for the year. The due date for the taxes is September 1st, but the owner fails to pay until December 1st.
- First Month Penalty: $2,000 x 1.5% = $30
- Second Month Penalty: $2,000 x 1.5% = $30 (total penalties = $60)
- Third Month Penalty: $2,000 x 1.5% = $30 (total penalties = $90)
- Fourth Month Penalty: $2,000 x 10% = $200 (total penalties = $290)
Therefore, the total amount owed by the property owner would be $2,290 ($2,000 in unpaid taxes + $290 in penalties).
We recommend contacting the Davidson County Tax Office or a local tax professional for the most up-to-date and accurate information.