Sevierville, Tennessee Property Taxes
The median property tax rate in Sevierville, TN is 0.55%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Sevierville at $158,950, the typical annual property tax bill reaches $870, significantly below the national median of $2,690. Property taxes in Sevierville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sevierville'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 Sevierville 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
Sevierville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$874
Ownwell’s Sevierville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Sevierville using just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Sevierville to provide an estimate of your property tax bill. This valuable tool helps you comprehend potential tax obligations. For those interested in neighborhood-specific trends, additional localized information is available below. Your property's assessed value is determined by the county for property tax purposes, considering any applicable exemptions.
Property Tax Rates Across Sevierville, Tennessee
Property taxes in Sevierville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sevierville is 0.55%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Sevierville set these rates annually, and they can vary across different neighborhoods. Each year, Sevierville 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 Sevierville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37876 zip code has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Sevierville provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sevierville Tax Rate
0.55%
Average Jefferson County Tax Rate
0.55%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sevierville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37876 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Sevierville, Tennessee
In Sevierville, 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 Jefferson 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 Sevierville, 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 Sevierville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 37876, with a median tax bill of $870.
Average Sevierville Assessed Value
$158,950
Average Jefferson County Assessed Value
$119,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sevierville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37876 | $48,480 | $84,250 | $158,950 | $232,100 | $372,670 |
Source: Ownwell
Property Tax Bills Across Sevierville, Tennessee
In Sevierville, located in Jefferson County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Sevierville experience varying tax bills, with the 25th percentile paying around $461 and the 75th percentile paying approximately $1,271. At the 90th percentile, tax bills can reach up to $2,040. The median home price in the area is $158,950, which serves as a baseline for these calculations. Factors influencing these tax amounts include the home's assessed value, the local tax rate, and any applicable exemptions or deductions. Comparatively, the median property tax rate in Sevierville is significantly lower than the national median of 0.99%, making it relatively affordable for homeowners. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Sevierville Tax Bill
$870
Average Jefferson County Tax Bill
$726
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Sevierville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37876 | $266 | $461 | $870 | $1,271 | $2,040 |
Source: Ownwell