37354 Property Tax Rate

Property owners in ZIP code 37354 (Madisonville, Tennessee) pay a median of $881/year in property taxes on homes valued at $209,100. This translates to an effective tax rate of 0.42%, which is 23% below the Tennessee state average of 0.55%.

The monthly property tax burden for a median-valued home in 37354 is approximately $73, which factors into escrow payments on mortgages. This ZIP code is located within Monroe County. This is $325 less than the Tennessee average of $1,206/year.

Compared to similar ZIP codes in Tennessee, 37354 has higher property taxes. ZIP codes with similar effective rates include 37122 (0.42%) and 37849 (0.42%).

In Madisonville, property taxes represent approximately 1.6% of the median household income of $53,547, providing context for the relative tax burden on homeowners in this area.

Tennessee permits unlimited annual reassessments with no state cap; Monroe County property can be revalued upward without limitation. Monroe County offers the Homestead Exemption for seniors 65+ and disabled homeowners—apply at the Monroe County Assessor's office to lower taxable value and save on annual taxes. After closing, request your assessment from the Monroe County Assessor and file a formal appeal within 30 days if the valuation seems inaccurate.