Maryville, Tennessee Property Taxes
The median property tax rate in Maryville, TN is 0.56%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Maryville at $249,200, the typical annual property tax bill is $1,495, which is well below the national median of $2,690. Property taxes in Maryville are determined based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Navigating Maryville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Maryville or another part of Monroe County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Maryville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,396
Ownwell’s Maryville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maryville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maryville 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 Maryville, Tennessee
Property taxes in Maryville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maryville is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Maryville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maryville 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 Maryville's effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 37801 has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these areas compare with Maryville provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Maryville Tax Rate
0.56%
Average Monroe County Tax Rate
0.56%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maryville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37801 | 0.56% | 0.56% | 0.56% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Maryville, Tennessee
In Maryville, 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 Monroe 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 Maryville, 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. For example, the median home price in Maryville is $249,200. Depending on the assessed value and applicable exemptions, property tax bills can vary significantly. The 25th percentile tax bill is $821, while the 75th percentile tax bill is $2,363, and the 90th percentile tax bill reaches $3,688. The highest and lowest median tax bills, both $1,495, are found in the 37801 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Maryville Assessed Value
$249,200
Average Monroe County Assessed Value
$118,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Maryville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37801 | $67,360 | $144,450 | $249,200 | $409,950 | $593,470 |
Source: Ownwell
Property Tax Bills Across Maryville, Tennessee
In Maryville, located in Monroe County, TN, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. The median home price in Maryville is $249,200. Property tax rates are determined by local government and applied to the assessed value to calculate the annual tax bill. Homeowners in Maryville see a range of tax bills, with the 25th percentile at $821 and the 75th percentile at $2,363. For those at the 90th percentile, tax bills can reach up to $3,688 annually. Comparatively, the highest and lowest median tax bills in the area are both $1,495, specifically in the 37801 zip code. These figures illustrate how property taxes can vary widely based on property values and local tax rates. Understanding these factors is crucial for homeowners, as higher property taxes can significantly impact annual expenses and overall affordability of owning a home in Maryville.
Average Maryville Tax Bill
$1,495
Average Monroe County Tax Bill
$742
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Maryville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37801 | $367 | $821 | $1,495 | $2,363 | $3,688 |
Source: Ownwell