Erwin, Tennessee Property Taxes
The median property tax rate in Erwin, TN is 0.54%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Erwin at $60,700, the typical annual property tax bill reaches $327, significantly below the national median of $2,690. Property taxes in Erwin are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Erwin'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 Erwin or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Erwin, 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 Erwin Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Erwin with just two data points. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Erwin to provide an estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Erwin, Tennessee
Property taxes in Erwin, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Erwin is 0.54%, which is lower than the U.S. national median of 0.99%. Local government entities within Erwin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Erwin 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 Erwin's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37650 zip code has both the highest and the lowest median property tax rate of 0.54%. Understanding how these cities compare with Erwin provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Erwin Tax Rate
0.54%
Average Washington County Tax Rate
0.54%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Erwin, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37650 | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Erwin, Tennessee
In Erwin, 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 Washington 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 Erwin, 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. For instance, the highest median tax bill in Erwin is $327.00 in the 37650 zip code. Being aware of these valuation processes in Erwin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Erwin Assessed Value
$60,700
Average Washington County Assessed Value
$131,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Erwin, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37650 | $16,000 | $29,200 | $60,700 | $109,100 | $158,400 |
Source: Ownwell
Property Tax Bills Across Erwin, Tennessee
In Erwin, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Erwin can expect their tax bill to be influenced by several factors, including the market value of their home, the local tax rate set by Washington County, and any applicable exemptions or deductions. For a median home price of $60,700, the property tax bill at the 25th percentile is $157, while at the 75th percentile, it is $590. The 90th percentile tax bill reaches $871. The highest and lowest median tax bills in Erwin are both recorded at $327 in the 37650 zip code. Comparatively, the national median property tax rate is 0.99%, which highlights that Erwin's property tax rates can be relatively modest, potentially making it an attractive location for homeowners looking for lower property tax obligations.
Average Erwin Tax Bill
$327
Average Washington County Tax Bill
$882
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Erwin, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37650 | $85 | $157 | $327 | $590 | $871 |
Source: Ownwell