Maryville, Tennessee Property Taxes
The median property tax rate in Maryville, TN is 0.39%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $184,700 in Maryville, the typical annual property tax bill amounts to $718, well below the national median of $2,690. Property taxes in Maryville 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 Maryville'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 Maryville or another part of Knox County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maryville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$720
Ownwell’s Maryville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maryville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maryville 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 Maryville, Tennessee
Property taxes in Maryville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maryville is 0.39%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Maryville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maryville 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 Maryville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the highest median property tax rate within the state can reach much higher levels, while some areas may have even lower rates than Maryville. Understanding how these cities compare with Maryville provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maryville Tax Rate
0.39%
Average Knox County Tax Rate
0.39%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maryville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37803 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Maryville, Tennessee
In Maryville, 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 Knox 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 Maryville, 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 Maryville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Maryville are both $718, found in the 37803 zip code.
Average Maryville Assessed Value
$184,700
Average Knox County Assessed Value
$222,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maryville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37803 | $184,700 | $184,700 | $184,700 | $184,700 | $184,700 |
Source: Ownwell
Property Tax Bills Across Maryville, Tennessee
In Maryville, located in Knox County, TN, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Once the assessed value is established, the local tax rate, or millage rate, is applied to calculate the annual tax bill. For example, with a median home price of $184,700, the tax bill typically falls around $718, which is consistent across various percentiles in the area. Several factors influence the tax bill, including property size, location, and any applicable exemptions or abatements. For homeowners, this means that the tax bill can significantly impact their annual budget. Compared to the national median property tax rate of 0.99%, Maryville's rate results in relatively lower tax bills, making it an attractive location for potential homeowners. The consistency in tax bills across different percentiles also provides predictability, aiding homeowners in financial planning.
Average Maryville Tax Bill
$718
Average Knox County Tax Bill
$1,143
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Maryville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37803 | $718 | $718 | $718 | $718 | $718 |
Source: Ownwell