37115 Property Tax Rate

Property owners in ZIP code 37115 (Madison, Tennessee) pay a median of $1,640/year in property taxes on homes valued at $271,100. This translates to an effective tax rate of 0.60%, which is 10% above the Tennessee state average of 0.55%.

The monthly property tax burden for a median-valued home in 37115 is approximately $137, which factors into escrow payments on mortgages. This ZIP code is located within Davidson County. This is $434 more than the Tennessee average of $1,206/year.

Compared to similar ZIP codes in Tennessee, 37115 has lower property taxes. ZIP codes with similar effective rates include 37096 (0.60%) and 38343 (0.61%).

In Madison, property taxes represent approximately 3.1% of the median household income of $53,034, providing context for the relative tax burden on homeowners in this area.

Tennessee has no statewide cap on property tax increases, and your property will be reassessed at market value whenever title changes at purchase. Davidson County (which includes Nashville) provides homeowner exemptions and senior exemptions for those 65+; apply with the Davidson County Assessor of Property immediately after purchase to lock in relief. Contact the Davidson County Assessor to confirm exemption amounts, file your application, and note the appeal deadline for challenging the assessed value.