Louisville, Tennessee Property Taxes
The median property tax rate in Louisville, TN is 0.62%, which is lower than both the national median of 0.99% and Tennessee's state median of 0.64%. With a median home value of $187,500 in Louisville, the typical annual property tax bill is $1,191, significantly below the national median of $2,690. Property taxes in Louisville are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding the local property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Louisville or another part of Blount County, being well-informed about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Louisville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$1,163
Ownwell’s Louisville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Louisville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Louisville 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 Louisville, Tennessee
Property taxes in Louisville, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Louisville is 0.62%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Louisville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Louisville 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 Louisville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37777 zip code has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Louisville provides valuable insights into the varying tax landscape across Blount County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Louisville Tax Rate
0.62%
Average Blount County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Louisville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37777 | 0.62% | 0.62% | 0.62% | 0.62% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Louisville, Tennessee
In Louisville, 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 Blount 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 Louisville, 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. The median home price in Louisville stands at $187,500, with tax bills ranging from $740 at the 25th percentile to $3,401 at the 90th percentile. Interestingly, the zip code 37777 has the highest and lowest median tax bill, both at $1,191. 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 Louisville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Louisville Assessed Value
$187,500
Average Blount County Assessed Value
$163,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Louisville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37777 | $32,900 | $119,500 | $187,500 | $303,000 | $534,800 |
Source: Ownwell
Property Tax Bills Across Louisville, Tennessee
In Louisville, Blount County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this area is $187,500. Local tax rates are applied to this assessed value to determine the annual tax bill. Factors such as the property’s location, improvements, and any exemptions or abatements also play a role in the final tax amount. For homeowners in Louisville, the property tax burden can vary significantly. For example, the 25th percentile tax bill is around $740, while those in the 75th percentile can expect to pay approximately $2,095. At the higher end, the 90th percentile tax bill reaches up to $3,401. Notably, the highest and lowest median tax bills in the area are both $1,191, reflecting a consistent tax rate within the zip code 37777. These property taxes are crucial for funding local services such as schools, emergency services, and infrastructure, directly impacting the quality of life for residents. Understanding how these taxes are calculated helps homeowners manage their finances and plan for future expenses.
Average Louisville Tax Bill
$1,191
Average Blount County Tax Bill
$1,142
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Louisville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37777 | $272 | $740 | $1,191 | $2,095 | $3,401 |
Source: Ownwell