Sneedville, Tennessee Property Taxes
The median property tax rate in Sneedville, 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 Sneedville at $17,100, the typical annual property tax bill is just $84, far below the national median of $2,690. Property taxes in Sneedville 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 Sneedville'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 Sneedville 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
Sneedville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$84
Ownwell's Sneedville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Sneedville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sneedville to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed insights, you can explore trends at the neighborhood level by scrolling down. Your property's assessed value, determined by the county, forms the basis for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Sneedville, Tennessee
Property taxes in Sneedville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sneedville is 0.49%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Sneedville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sneedville 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 Sneedville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37869 zip code has the highest median property tax rate of 0.49%, while the same 37869 zip code also has the lowest median tax rate of 0.49%. Understanding how these cities compare with Sneedville 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 Sneedville 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 Sneedville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37869 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Sneedville, Tennessee
In Sneedville, 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 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 Sneedville, 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 Sneedville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Hamblen County, the median home price is $17,100, with tax bills at the 25th, 75th, and 90th percentiles all being $84.
Average Sneedville Assessed Value
$17,100
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 Sneedville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37869 | $17,100 | $17,100 | $17,100 | $17,100 | $17,100 |
Source: Ownwell
Property Tax Bills Across Sneedville, Tennessee
In Sneedville, Hamblen County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. In this region, the median home price is $17,100. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Sneedville, the property tax bill can vary, but a significant portion of residents pay around $84 annually, as indicated by the 25th, 75th, and 90th percentiles. This is considerably lower than the national median property tax rate of 0.99%, making Sneedville an attractive location for homeowners looking for lower property tax burdens. Factors that influence the tax bill include changes in the market value of homes and any local tax rate adjustments. Lower property taxes can significantly benefit homeowners by reducing their annual expenses and making homeownership more affordable.
Average Sneedville Tax Bill
$84
Average Hamblen County Tax Bill
$619
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Sneedville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37869 | $84 | $84 | $84 | $84 | $84 |
Source: Ownwell