Seymour, Tennessee Property Taxes
The median property tax rate in Seymour, TN is 0.62%, which is lower than both the national median of 0.99% and Tennessee's state median of 0.64%. With a median home value of $171,800 in Seymour, the typical annual property tax bill amounts to $1,070, significantly below the national median of $2,690. Property taxes in Seymour are calculated based on the tax assessed value, which is usually less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Seymour'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 Seymour 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
Seymour, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$1,065
Ownwell’s Seymour Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seymour with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seymour 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 Seymour, Tennessee
Property taxes in Seymour, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seymour is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Seymour set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seymour 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 Seymour's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37865 zip code has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Seymour provides valuable insights into the varying tax landscape across Blount County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Seymour Tax Rate
0.62%
Average Blount County Tax Rate
0.62%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Seymour, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37865 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Seymour, Tennessee
In Seymour, 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 Blount 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 Seymour, 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 Seymour helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 37865, with a median tax bill of $1,070.
Average Seymour Assessed Value
$171,800
Average Blount County Assessed Value
$163,800
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Seymour, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37865 | $93,530 | $129,025 | $171,800 | $226,000 | $313,070 |
Source: Ownwell
Property Tax Bills Across Seymour, Tennessee
In Seymour, located in Blount County, TN, property tax bills are determined based on the assessed value of a home. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For instance, the median home price in Seymour is $171,800. Homeowners in this area can expect a range of tax bills, with the 25th percentile at $797 and the 75th percentile at $1403. At the higher end, the 90th percentile tax bill can reach up to $1934. Compared to the national median property tax rate of 0.99%, Seymour's property tax rates can be considered relatively moderate. Understanding these factors helps homeowners budget effectively and anticipate their annual property tax obligations, ensuring they can manage their financial responsibilities efficiently.
Average Seymour Tax Bill
$1,070
Average Blount County Tax Bill
$1,142
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Seymour, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37865 | $577 | $797 | $1,070 | $1,403 | $1,934 |
Source: Ownwell