Mohawk, Tennessee Property Taxes
The median property tax rate in Mohawk, TN is 0.49%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Mohawk at $27,100, the typical annual property tax bill is just $133, far below the national median of $2,690. Property taxes in Mohawk are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mohawk'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 Mohawk 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
Mohawk, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$133
Ownwell’s Mohawk Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mohawk with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mohawk 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 Mohawk, Tennessee
Property taxes in Mohawk, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mohawk is 0.49%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Mohawk set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mohawk 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 Mohawk's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37810 zip code has both the highest and lowest median property tax rate of 0.49%. Understanding how these cities compare with Mohawk provides valuable insights into the varying tax landscape across Hamblen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mohawk Tax Rate
0.49%
Average Hamblen County Tax Rate
0.49%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mohawk, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37810 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Mohawk, Tennessee
In Mohawk, 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 Hamblen 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 Mohawk, 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 Mohawk helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 37810 has both the highest and lowest median tax bills, each at $133.
Average Mohawk Assessed Value
$27,100
Average Hamblen County Assessed Value
$105,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mohawk, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37810 | $27,100 | $27,100 | $27,100 | $27,100 | $27,100 |
Source: Ownwell
Property Tax Bills Across Mohawk, Tennessee
In Mohawk, located in Hamblen 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 Mohawk is $27,100. Property tax rates in this region are generally lower than the national median property tax rate of 0.99%. For example, the median tax bill in Mohawk is $133, which is consistent across various percentiles including the 25th, 75th, and 90th percentiles. Several factors influence the tax bill, including the assessed value of the property and the local tax rate set by Hamblen County. These factors collectively determine the amount homeowners need to pay annually. A lower tax bill can be beneficial for homeowners, making it more affordable to maintain property ownership over time. However, it also means that local services funded by property taxes may receive less revenue, potentially impacting community resources and infrastructure.
Average Mohawk Tax Bill
$133
Average Hamblen County Tax Bill
$619
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mohawk, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37810 | $133 | $133 | $133 | $133 | $133 |
Source: Ownwell