Surgoinsville, Tennessee Property Taxes
The median property tax rate in Surgoinsville, TN is 0.58%, notably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Surgoinsville at $73,650, the typical annual property tax bill amounts to $482, which is significantly less than the national median of $2,690. Property taxes in Surgoinsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Surgoinsville'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 Surgoinsville or another part of Hawkins County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Surgoinsville, 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 Surgoinsville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Surgoinsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Surgoinsville 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 Surgoinsville, Tennessee
Property taxes in Surgoinsville, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Surgoinsville is 0.58%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Surgoinsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Surgoinsville 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 Surgoinsville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37873 zip code has both the highest and lowest median property tax rate of 0.58%. Understanding how these cities compare with Surgoinsville provides valuable insights into the varying tax landscape across Hawkins County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Surgoinsville Tax Rate
0.58%
Average Hawkins County Tax Rate
0.58%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Surgoinsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37873 | 0.58% | 0.58% | 0.58% | 0.82% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Surgoinsville, Tennessee
In Surgoinsville, 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 Hawkins 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 Surgoinsville, 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 Surgoinsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Surgoinsville is $73,650, with the highest and lowest median tax bills both recorded at $482 in the 37873 zip code.
Property Tax Assessment Values Across Surgoinsville, Tennessee
Source: Ownwell
$10,400
$107,575
$204,750
Average Surgoinsville Assessed Value
$73,650
Average Hawkins County Assessed Value
$69,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Surgoinsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37873 | $11,900 | $22,950 | $73,650 | $136,400 | $190,500 |
Source: Ownwell
Property Tax Bills Across Surgoinsville, Tennessee
In Surgoinsville, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Surgoinsville is $73,650. Homeowners in this city can expect their tax bills to vary significantly depending on the assessed value of their property and the specific tax rate applied by Hawkins County. For instance, the tax bill at the 25th percentile is $148, while at the 75th percentile, it's $921. At the 90th percentile, the tax bill rises to $1,322. The highest median tax bill in the area is $482, which is consistent across the zip code 37873. These figures indicate that property tax bills in Surgoinsville can range widely, potentially impacting homeowners differently based on their property’s assessed value and the applicable tax rate. Understanding these factors can help homeowners better anticipate their property tax obligations and manage their finances accordingly.
Average Surgoinsville Tax Bill
$482
Average Hawkins County Tax Bill
$448
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Surgoinsville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37873 | $74 | $148 | $482 | $921 | $1,322 |
Source: Ownwell