Mooresburg, Tennessee Property Taxes
The median property tax rate in Mooresburg, TN is 0.59%, which is significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Mooresburg at $158,600, the typical annual property tax bill amounts to $906, well below the national median of $2,690. Property taxes in Mooresburg 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 Mooresburg'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 Mooresburg or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mooresburg, 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 Mooresburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mooresburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mooresburg 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 Mooresburg, Tennessee
Property taxes in Mooresburg, Tennessee, play a crucial role in financing essential local services such as public schools, road upkeep, and emergency services. The median tax rate in Mooresburg is 0.59%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Mooresburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mooresburg 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 Mooresburg's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37811 has both the highest and lowest median property tax rate of 0.59%. Understanding how these cities compare with Mooresburg provides valuable insights into the varying tax landscape across Grainger County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mooresburg Tax Rate
0.59%
Average Grainger County Tax Rate
0.59%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mooresburg, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37811 | 0.18% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Mooresburg, Tennessee
In Mooresburg, 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 Grainger 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 Mooresburg, 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 Mooresburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 37811, with a median tax bill of $906.00, while the lowest median tax bill is also in the 37811 zip code, at $906.00.
Average Mooresburg Assessed Value
$158,600
Average Grainger County Assessed Value
$110,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mooresburg, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37811 | $19,360 | $60,200 | $158,600 | $197,800 | $245,000 |
Source: Ownwell
Property Tax Bills Across Mooresburg, Tennessee
In Mooresburg, Grainger County, TN, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the market value, which is determined by the local assessor's office. Once the assessed value is established, the property tax rate is applied to this value to calculate the tax bill. For instance, if your home’s market value is $158,600, the assessed value would be a portion of this amount. The property tax rate in Grainger County is lower compared to the national median property tax rate of 0.99%. Homeowners in Mooresburg can expect a wide range of tax bills. The 25th percentile tax bill is around $219, while those at the 75th percentile pay approximately $1,164. The highest median tax bill in the area is $906, found in the 37811 zip code. These tax bills can significantly impact homeowners, influencing their monthly expenses and overall cost of living. Understanding these factors helps homeowners better anticipate their financial obligations.
Average Mooresburg Tax Bill
$906
Average Grainger County Tax Bill
$597
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mooresburg, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37811 | $7 | $219 | $906 | $1,164 | $1,502 |
Source: Ownwell