38224 Property Tax Rate

Property owners in ZIP code 38224 (Cottage Grove, Tennessee) pay a median of $605/year in property taxes on homes valued at $137,800. This translates to an effective tax rate of 0.44%, which is 20% below the Tennessee state average of 0.55%.

The monthly property tax burden for a median-valued home in 38224 is approximately $50, which factors into escrow payments on mortgages. This ZIP code is located within Henry County. This is $601 less than the Tennessee average of $1,206/year.

Compared to similar ZIP codes in Tennessee, 38224 has lower property taxes. ZIP codes with similar effective rates include 37846 (0.44%) and 38348 (0.44%).

In Cottage Grove, property taxes represent approximately 1.0% of the median household income of $58,828, providing context for the relative tax burden on homeowners in this area.

Tennessee has no statewide property tax cap—expect reassessment to market value by the Henry County Assessor when you purchase your property. Apply for Henry County's homestead exemption for primary residences with the Henry County Assessor immediately after closing. Contact the Henry County Assessor to file your exemption and request documentation of your final assessed value after the homestead reduction is applied.