37307 Property Tax Rate

Property owners in ZIP code 37307 (Benton, Tennessee) pay a median of $1,054/year in property taxes on homes valued at $187,800. This translates to an effective tax rate of 0.56%, which is near the Tennessee state average of 0.55%.

The monthly property tax burden for a median-valued home in 37307 is approximately $88, which factors into escrow payments on mortgages. This ZIP code is located within Polk County.

Compared to similar ZIP codes in Tennessee, 37307 has lower property taxes. ZIP codes with similar effective rates include 37324 (0.56%) and 37379 (0.56%).

In Benton, property taxes represent approximately 1.4% of the median household income of $74,953, providing context for the relative tax burden on homeowners in this area.

Tennessee allows unrestricted annual reassessments; Polk County property can increase in value without a statewide cap. Homeowners 65+ and disabled persons in Polk County are eligible for the Homestead Exemption—apply at the Polk County Assessor's office to lower your assessed value. Request your assessment from the Polk County Assessor after purchase and submit an appeal within 30 days if you believe the valuation is inaccurate.