La Follette, Tennessee Property Taxes
The median property tax rate in LA FOLLETTE, TN is 0.51%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $87,100 in LA FOLLETTE, the typical annual property tax bill amounts to $500, well below the national median of $2,690. Property taxes in LA FOLLETTE are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding LA FOLLETTE'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 LA FOLLETTE 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
La Follette, 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 LA FOLLETTE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LA FOLLETTE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LA FOLLETTE 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 La Follette, Tennessee
Property taxes in La Follette, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in La Follette is 0.51%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within La Follette set these rates annually, and they can vary significantly across different neighborhoods. Each year, La Follette 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 La Follette's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37766 has the highest median property tax rate of 0.51%, while zip code 37729 has the lowest median tax rate of 0.51%. Understanding how these cities compare with La Follette provides valuable insights into the varying tax landscape across Campbell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average La Follette Tax Rate
0.51%
Average Campbell County Tax Rate
0.51%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across La Follette, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37729 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
| 37766 | 0.51% | 0.51% | 0.51% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across La Follette, Tennessee
In LA FOLLETTE, 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 Campbell County Property 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 LA FOLLETTE, 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 LA FOLLETTE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $870 in the 37729 zip code, while the lowest is $500 in the 37766 zip code.
Average La Follette Assessed Value
$87,100
Average Campbell County Assessed Value
$89,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across La Follette, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37729 | $68,150 | $107,075 | $171,950 | $236,825 | $275,750 |
| 37766 | $28,300 | $48,300 | $87,100 | $161,125 | $343,210 |
Source: Ownwell
Property Tax Bills Across La Follette, Tennessee
In La Follette, located in Campbell County, TN, property tax bills are calculated based on the assessed value of a property. This assessed value is typically a percentage of the property's market value, which is determined by local assessors. Homeowners in La Follette can expect a range of property tax bills, with the 25th percentile at $301 and the 75th percentile at $908. The 90th percentile tax bill can reach up to $1,822, indicating a significant variance based on property values and other factors. Several elements influence the final tax bill, including the property's location within specific zip codes. For instance, the highest median tax bill in the area is $870 in the 37729 zip code, while the lowest is $500 in the 37766 zip code. These property tax rates are crucial for homeowners as they directly impact the cost of owning a home in La Follette. Compared to the national median property tax rate of 0.99%, La Follette's rates offer a relatively affordable property tax environment, making it an attractive option for potential homeowners.
Average La Follette Tax Bill
$500
Average Campbell County Tax Bill
$481
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across La Follette, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37729 | $345 | $542 | $870 | $1,199 | $1,396 |
| 37766 | $164 | $301 | $500 | $908 | $1,823 |
Source: Ownwell