Friendsville, Tennessee Property Taxes
The median property tax rate in Friendsville, TN is 0.62%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $164,600 in Friendsville, the typical annual property tax bill is $1,021, significantly less than the national median of $2,690. Property taxes in Friendsville are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Friendsville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Friendsville or another part of Blount County, understanding the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Friendsville, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Friendsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Friendsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Friendsville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Friendsville, Tennessee
Property taxes in Friendsville, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Friendsville is 0.62%, significantly lower than the U.S. national median of 0.99%. Local government entities within Friendsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Friendsville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Friendsville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37737 has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these cities compare with Friendsville provides valuable insights into the varying tax landscape across Blount County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Friendsville Tax Rate
0.62%
Average Blount County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Friendsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37737 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Friendsville, Tennessee
In Friendsville, Tennessee, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Blount County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Friendsville, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Friendsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Friendsville’s median home price is $164,600, with tax bills ranging from $602 at the 25th percentile to $2,285 at the 90th percentile. The zip code 37737 has the highest and lowest median tax bill, both at $1,021, offering a unique insight into the local property tax landscape.
Average Friendsville Assessed Value
$164,600
Average Blount County Assessed Value
$163,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Friendsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37737 | $51,140 | $97,575 | $164,600 | $250,500 | $370,980 |
Source: Ownwell
Property Tax Bills Across Friendsville, Tennessee
In Friendsville, located in Blount County, TN, property tax bills are calculated based on the assessed value of a property. The assessed value is a percentage of the property's market value, which is determined by the county's property assessor. Various factors, such as the property's location, size, and condition, influence this market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Friendsville, the median home price is $164,600, with property tax bills ranging significantly. The 25th percentile tax bill stands at $602, while the 75th percentile reaches $1,550. At the 90th percentile, homeowners can expect to pay around $2,285. The highest median tax bill in the area is $1,021, which is notably lower than the national median property tax rate of 0.99%. These property taxes fund essential local services, such as schools, public safety, and infrastructure, directly impacting the community's quality of life.
Average Friendsville Tax Bill
$1,021
Average Blount County Tax Bill
$1,142
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Friendsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37737 | $313 | $602 | $1,021 | $1,550 | $2,285 |
Source: Ownwell