Caryville, Tennessee Property Taxes
The median property tax rate in Caryville, TN is 0.51%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $84,800 in Caryville, the typical annual property tax bill is $427, well below the national median of $2,690. Property taxes in Caryville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Caryville'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 Caryville 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
Caryville, 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 Caryville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Caryville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Caryville 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 Caryville, Tennessee
Property taxes in Caryville, Tennessee, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Caryville is 0.51%, which is lower than the U.S. national median of 0.99%. Local government entities within Caryville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Caryville 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 Caryville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37714 has both the highest and lowest median property tax rate of 0.51%. Understanding how these cities compare with Caryville provides valuable insights into the varying tax landscape across Campbell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Caryville Tax Rate
0.51%
Average Campbell County Tax Rate
0.51%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caryville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37714 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Caryville, Tennessee
In Caryville, 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 Campbell 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 Caryville, 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 Caryville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 37714 has the highest median tax bill at $427.00, while the lowest median tax bill is also $427.00 in the same zip code.
Average Caryville Assessed Value
$84,800
Average Campbell County Assessed Value
$89,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caryville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37714 | $14,600 | $42,000 | $84,800 | $151,775 | $286,550 |
Source: Ownwell
Property Tax Bills Across Caryville, Tennessee
In Caryville, Campbell County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Caryville is $84,800. Property tax rates in this region are relatively low compared to the national median property tax rate of 0.99%. The tax bill for homeowners can vary significantly, with the 25th percentile tax bill being $210 and the 75th percentile reaching $766. At the 90th percentile, homeowners might see tax bills as high as $1,460. Several factors influence the final tax bill, including the assessed value of the property, local tax rates, and any applicable exemptions. For homeowners in Caryville, these property tax bills can impact their annual budgeting and financial planning. Understanding how these taxes are calculated and what influences them can help homeowners better prepare for their financial obligations. The highest and lowest median tax bills in the area are both recorded at $427, indicating a moderate range for most residents.
Average Caryville Tax Bill
$427
Average Campbell County Tax Bill
$481
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Caryville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37714 | $83 | $210 | $427 | $766 | $1,460 |
Source: Ownwell