37405 Property Tax Rate

Property owners in ZIP code 37405 (Chattanooga, Tennessee) pay a median of $2,909/year in property taxes on homes valued at $416,900. This translates to an effective tax rate of 0.70%, which is 27% above the Tennessee state average of 0.55%.

The monthly property tax burden for a median-valued home in 37405 is approximately $242, which factors into escrow payments on mortgages. This ZIP code is located within Marion County. This is $1,703 more than the Tennessee average of $1,206/year.

Compared to similar ZIP codes in Tennessee, 37405 has higher property taxes. ZIP codes with similar effective rates include 37212 (0.70%) and 37912 (0.70%).

In Chattanooga, property taxes represent approximately 3.7% of the median household income of $77,850, providing context for the relative tax burden on homeowners in this area.

Tennessee allows unlimited reassessment without state caps; Marion County property valuations can increase at each cycle. Marion County residents 65+ and certified disabled persons should apply for the Homestead Exemption at the Marion County Assessor's office to exempt a portion of assessed value. After closing, obtain your Notice of Assessment from the Marion County Assessor and file an appeal within 30 days if you believe the valuation is inflated.