Walland, Tennessee Property Taxes
The median property tax rate in Walland, 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 $142,800 in Walland, the typical annual property tax bill amounts to $877, significantly below the national median of $2,690. Property taxes in Walland are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Walland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Walland or another part of Blount County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Walland, 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 Walland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walland 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 Blount County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Walland, Tennessee
Property taxes in Walland, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walland is 0.62%, lower than the U.S. national median of 0.99%. Local government entities within Walland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walland 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 Walland's effective property tax rate to other areas in Blount County and the national median. For comparison, the 37886 zip code 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 Walland 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 Walland 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 Walland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37886 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Walland, Tennessee
In Walland, 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 Property Assessor 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 Walland, 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. The median home price in Walland is $142,800, with tax bills ranging from $424 at the 25th percentile to $2,208 at the 90th percentile. The highest and lowest median tax bills are both $877 in the 37886 zip code. 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 Walland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Walland Assessed Value
$142,800
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 Walland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37886 | $29,900 | $69,300 | $142,800 | $239,200 | $360,300 |
Source: Ownwell
Property Tax Bills Across Walland, Tennessee
In Walland, located in Blount County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Homeowners in Walland can expect their property tax bills to vary significantly depending on their property's assessed value and the applicable tax rate. For instance, the median home price in Walland is $142,800. Property tax bills in the area can range widely, with the 25th percentile at $424 and the 75th percentile reaching up to $1,476. For those in the 90th percentile, tax bills can be as high as $2,208. These figures illustrate the variability in property tax obligations, which can impact homeowners' annual budgeting and financial planning. Compared to the national median property tax rate of 0.99%, Walland's property tax rates demonstrate a broad spectrum, reflecting the diverse property values and the local tax policies in place.
Average Walland Tax Bill
$877
Average Blount County Tax Bill
$1,142
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Walland, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37886 | $185 | $424 | $877 | $1,476 | $2,208 |
Source: Ownwell