Sneedville, Tennessee Property Taxes
The median property tax rate in Sneedville, TN is 0.58%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Sneedville at $95,400, the typical annual property tax bill is approximately $554, which is well below the national median of $2,690. Property taxes in Sneedville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sneedville'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 Sneedville or another part of Claiborne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sneedville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$553
Ownwell’s Sneedville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Sneedville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sneedville 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 Sneedville, Tennessee
Property taxes in Sneedville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sneedville is 0.58%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Sneedville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sneedville 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 Sneedville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37869 zip code has the highest median property tax rate of 0.58%, while the same zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Sneedville provides valuable insights into the varying tax landscape across Claiborne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sneedville Tax Rate
0.58%
Average Claiborne County Tax Rate
0.58%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sneedville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37869 | 0.57% | 0.57% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Sneedville, Tennessee
In Sneedville, 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 Claiborne 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 Sneedville, 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. For instance, the median home price in Sneedville is $95,400, with tax bills ranging from $335 at the 25th percentile to $1,246 at the 90th percentile. The highest and lowest median tax bills are both $554, found in zip code 37869. 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 Sneedville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sneedville Assessed Value
$95,400
Average Claiborne County Assessed Value
$114,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sneedville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37869 | $26,640 | $50,300 | $95,400 | $153,500 | $209,680 |
Source: Ownwell
Property Tax Bills Across Sneedville, Tennessee
In Sneedville, property tax bills are calculated based on the assessed value of a homeowner's property. The assessment is determined by the Claiborne County Assessor’s office, which evaluates the market value of the property and then applies an assessment ratio to determine its assessed value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and market conditions. For instance, the median home price in Sneedville is $95,400, and property tax bills can vary significantly. The 25th percentile tax bill is around $335, while the 75th percentile reaches $888, and the 90th percentile can be as high as $1,246. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these taxes are calculated helps homeowners better plan their finances and anticipate yearly expenses.
Average Sneedville Tax Bill
$554
Average Claiborne County Tax Bill
$680
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Sneedville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37869 | $209 | $335 | $554 | $888 | $1,246 |
Source: Ownwell