Maynardville, Tennessee Property Taxes
The median property tax rate in Maynardville, TN is 0.66%, slightly higher than the Tennessee state median of 0.64% but lower than the national median of 0.99%. With a median home value of $48,000, the typical annual property tax bill in Maynardville amounts to $315, significantly below the national median of $2,690. Property taxes in Maynardville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Maynardville'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 Maynardville or another part of Anderson County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Maynardville, 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 Maynardville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maynardville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maynardville 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 Maynardville, Tennessee
Property taxes in Maynardville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maynardville is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Maynardville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maynardville 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 Maynardville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37807 zip code has the highest median property tax rate of 0.66%, while the 37807 zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Maynardville provides valuable insights into the varying tax landscape across Anderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maynardville Tax Rate
0.66%
Average Anderson County Tax Rate
0.87%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maynardville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37807 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Maynardville, Tennessee
In Maynardville, 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 authorities 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 Maynardville, 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 Maynardville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $48,000, with the highest and lowest median tax bills both being $315 in the 37807 zip code.
Average Maynardville Assessed Value
$48,000
Average Anderson County Assessed Value
$128,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maynardville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37807 | $48,000 | $48,000 | $48,000 | $48,000 | $48,000 |
Source: Ownwell
Property Tax Bills Across Maynardville, Tennessee
In Maynardville, 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 typically a percentage of the property's market value. For homeowners in Maynardville, the median home price stands at $48,000. The property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. In Maynardville, the tax bills are relatively consistent, with the 25th, 75th, and 90th percentiles all at $315. This rate is notably lower than the national median property tax rate of 0.99%, making it more affordable for homeowners in this area. The impact on homeowners is significant, as lower property taxes can lead to reduced monthly expenses, making homeownership more accessible and affordable. This consistency in tax bills also provides a level of predictability, allowing homeowners to better plan their finances.
Average Maynardville Tax Bill
$315
Average Anderson County Tax Bill
$1,127
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Maynardville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37807 | $315 | $315 | $315 | $315 | $315 |
Source: Ownwell