When you're considering relocating to a new city, the property taxes you will pay will come into play. You want to make sure you can afford the city and you won't be hit with a huge surprise when property tax time rolls around. Here's a look at how the property taxes in Nashville compare to some of the other major cities across the country.
Nashville Property Taxes
One of the things that draws many to Nashville is the attractive property taxes. The low rate of just $4.516 per $100 of property is far lower than other major cities. Even Memphis is much higher at $7.77 per $100 of property.
While Nashville and Davidson County have a consolidated government, which means no country tax rate to add to the city rate, it still has a two-tiered system. The Urban Service District or USD is an urban part of Nashville. However, the tax rate for this area is $0.592 per $100 of property higher compared to the General Service District or GSD. The USD neighborhoods pay a bit higher taxes for city services, such as police and fire protection, garbage pickup, street lighting, and sidewalks. This area includes:
- East Nashville
- Bordeaux
- Inglewood
- West Meade
- Hillwood
- Bellevue
- Antioch
- And More
The GSD neighborhoods tend to cover more rural areas of Nashville and don't pay quite as high of taxes. This includes every neighborhood found in Davidson County, except for 72 miles from East Nashville to just west of The Nations.
Nashville Property Taxes Compared to Other Major Cities
Just in Tennessee, alone, Nashville is lower than all other major cities. Nashville's property tax rate is $4.516 per $100 of property with a $0.592 bump for those in the USD area. Other major cities in Tennessee come in higher with the following:
- Chattanooga - $5.074
- Knoxville - $5.0457
- Memphis - $7.77
When you compare this to other cities and you use the percentage, this is what it looks like:
- Nashville - 1% of the assessed home value
- New York City - 1.925%
- Los Angeles - 0.793%
- Chicago - 2.009%
- Dallas - 2.173%
In most cases, larger cities have much higher property taxes than Nashville.
Why Nashville is a Great Place to Call Home
While the property taxes are just one factor in the decision to relocate to Nashville, it's an important one. You'll not only save money on property taxes by choosing Nashville, but you'll also be living in a city with a low cost of living, affordable housing, and a growing economy.
The way Nashville is growing right now; it has become a city very popular for buying property. The state uses a Certified Tax Rate or CTR, which keeps the tax rates lower and keeps more of your money in your pocket. In addition, there are many new jobs found in the city and plenty of things to do.
If you're considering relocating to a new city, Nashville should be high on your list. It's a great place to call home and you'll pay a much lower amount of taxes compared to other cities across the nation