Norris, Tennessee Property Taxes
The median property tax rate in Norris, TN is 1.04%, slightly higher than the national median of 0.99% and significantly above the Tennessee state median of 0.64%. With a median home value of $189,000 in Norris, the typical annual property tax bill amounts to $1,940, which is below the national median of $2,690. Property taxes in Norris are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Norris'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 Norris 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
Norris, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,966
$1,824
Ownwell’s Norris Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Norris with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Norris 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 Norris, Tennessee
Property taxes in Norris, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Norris is 1.04%, higher than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Norris set these rates annually, and they can vary significantly across different neighborhoods. Each year, Norris 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 Norris's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37828 zip code has the highest median property tax rate of 1.04%, while the 37828 zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Norris provides valuable insights into the varying tax landscape across Anderson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Norris Tax Rate
1.04%
Average Anderson County Tax Rate
0.87%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Norris, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37828 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Norris, Tennessee
In Norris, 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 Anderson 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 Norris, 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 Norris helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Norris is $189,000, with the median tax bill at the 25th percentile being $1,355 and at the 75th percentile being $2,876. The zip code 37828 has the highest and lowest median tax bill at $1,940.
Average Norris Assessed Value
$189,000
Average Anderson County Assessed Value
$128,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Norris, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37828 | $102,880 | $132,000 | $189,000 | $278,300 | $394,300 |
Source: Ownwell
Property Tax Bills Across Norris, Tennessee
In Norris, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Norris is $189,000. Property taxes are then determined by applying the local tax rate to this assessed value. The tax rate in Norris is influenced by various factors, including county budgets and funding needs for public services such as schools and infrastructure. Homeowners in Norris can expect a range of tax bills depending on their property's assessed value. For example, the tax bill at the 25th percentile is $1,355, while at the 75th percentile, it reaches $2,876. At the 90th percentile, the tax bill can go up to $4,059. The highest median tax bill in the area is $1,940, which is consistent across zip code 37828. This can significantly impact homeowners' finances, making it crucial to understand how these taxes are calculated and budget accordingly. Comparing these figures to the national median property tax rate of 0.99%, homeowners in Norris can better grasp their tax obligations.
Average Norris Tax Bill
$1,940
Average Anderson County Tax Bill
$1,127
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Norris, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37828 | $1,070 | $1,355 | $1,940 | $2,876 | $4,059 |
Source: Ownwell