Mountain City, Tennessee Property Taxes
The median property tax rate in Mountain City, TN is 0.45%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $99,200, the typical annual property tax bill in Mountain City is $494, far below the national median of $2,690. Property taxes in Mountain City are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Mountain City'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 Mountain City or another part of Johnson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mountain City, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$446
Ownwell’s Mountain City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mountain City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mountain City 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 Mountain City, Tennessee
Property taxes in Mountain City, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mountain City is 0.45%, which is below the U.S. national median of 0.99%. Local government entities within Mountain City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mountain City 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 Mountain City's effective property tax rate to other areas in Tennessee and the national median. For comparison, the 37683 zip code has both the highest and lowest median property tax rate of 0.45%. Understanding how these areas compare with Mountain City provides valuable insights into the varying tax landscape across Johnson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mountain City Tax Rate
0.45%
Average Johnson County Tax Rate
0.45%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mountain City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37683 | 0.45% | 0.45% | 0.45% | 0.45% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Mountain City, Tennessee
In Mountain City, 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 Johnson County 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 Mountain City, 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 Mountain City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $99,200, with tax bills ranging from $270 at the 25th percentile to $1,180 at the 90th percentile. The zip code 37683 has the highest and lowest median tax bill of $494.
Average Mountain City Assessed Value
$99,200
Average Johnson County Assessed Value
$99,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mountain City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37683 | $27,020 | $56,300 | $99,200 | $154,500 | $226,360 |
Source: Ownwell
Property Tax Bills Across Mountain City, Tennessee
In Mountain City, Johnson County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. For instance, with a median home price of $99,200, the assessed value would be a fraction of that amount, determined by the county's assessment ratio. The tax rate is then applied to this assessed value to calculate the annual property tax bill. Homeowners in Mountain City can expect a wide range of tax bills. At the 25th percentile, property tax bills are around $270, while at the 75th percentile, they climb to approximately $779. The 90th percentile sees tax bills reaching up to $1,180. The highest and lowest median tax bills in the city are both $494, indicating some consistency in tax assessments within certain areas. Compared to the national median property tax rate of 0.99%, Mountain City's property tax rates can offer significant savings for homeowners, making it a potentially attractive location for property investment.
Average Mountain City Tax Bill
$494
Average Johnson County Tax Bill
$480
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mountain City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37683 | $126 | $270 | $494 | $779 | $1,180 |
Source: Ownwell