Del Rio, Tennessee Property Taxes
The median property tax rate in Del Rio, TN, is 0.64%, aligning with the Tennessee state median but significantly lower than the national median of 0.99%. With a median home value of $98,000 in Del Rio, the typical annual property tax bill is $578, well below the national median of $2,690. Property taxes in Del Rio are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Del Rio'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 Del Rio or another part of Cocke County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Del Rio, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$627
Ownwell’s Del Rio Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Del Rio with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Del Rio 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 Del Rio, Tennessee
Property taxes in Del Rio, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Del Rio is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Del Rio set these rates annually, and they can vary significantly across different neighborhoods. Each year, Del Rio 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 Del Rio's effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 37727 has both the highest and lowest median property tax rate of 0.64%. Understanding how these cities compare with Del Rio provides valuable insights into the varying tax landscape across Cocke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Del Rio Tax Rate
0.64%
Average Cocke County Tax Rate
0.64%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Del Rio, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37727 | 0.59% | 0.64% | 0.64% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Del Rio, Tennessee
In Del Rio, 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 local 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 Del Rio, 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 Del Rio helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 37727 has both the highest and lowest median tax bill, standing at $578.
Average Del Rio Assessed Value
$98,000
Average Cocke County Assessed Value
$94,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Del Rio, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37727 | $30,790 | $55,300 | $98,000 | $148,650 | $217,130 |
Source: Ownwell
Property Tax Bills Across Del Rio, Tennessee
In Del Rio, Cocke County, TN, property tax bills are determined by assessing the value of a property and applying the local tax rate to that assessed value. The median home price in Del Rio is $98,000, which serves as a baseline for calculating property taxes. The tax bill can vary significantly depending on the assessed value and the specific characteristics of the property. For instance, tax bills in Del Rio range from the 25th percentile at $281 to the 90th percentile at $1,370. Factors such as property size, location, and improvements are taken into account when determining the assessed value. Once the assessed value is established, the local tax rate is applied to calculate the final tax bill. This process ensures that homeowners contribute fairly to local services and infrastructure. Compared to the national median property tax rate of 0.99%, Del Rio's property tax bills reflect the specific economic conditions and property values in the region, impacting how much homeowners ultimately pay.
Average Del Rio Tax Bill
$578
Average Cocke County Tax Bill
$618
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Del Rio, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37727 | $74 | $281 | $578 | $922 | $1,370 |
Source: Ownwell