Rocky Top, Tennessee Property Taxes
The median property tax rate in Rocky Top, 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 $107,800 in Rocky Top, the typical annual property tax bill comes to $536, well below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often lower than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Rocky Top'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 Rocky Top or another part of Campbell County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rocky Top, 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 Rocky Top Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rocky Top with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rocky Top 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 Rocky Top, Tennessee
Property taxes in Rocky Top, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rocky Top is 0.51%, which is significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Rocky Top set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rocky Top 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 Rocky Top's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37769 has both the highest and lowest median property tax rate of 0.51%. Understanding how these cities compare with Rocky Top 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 Rocky Top 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 Rocky Top, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37769 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Rocky Top, Tennessee
In Rocky Top, 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 Rocky Top, 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 Rocky Top helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 37769 has the highest and lowest median tax bill, both at $536.
Average Rocky Top Assessed Value
$107,800
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 Rocky Top, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37769 | $44,840 | $78,200 | $107,800 | $158,900 | $239,620 |
Source: Ownwell
Property Tax Bills Across Rocky Top, Tennessee
In Rocky Top, located in Campbell County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. With a median home price of $107,800, the tax bill varies significantly among homeowners. Factors such as location, property size, and improvements can influence the assessed value. For instance, the tax bill at the 25th percentile is around $390, while at the 75th percentile, it rises to $787. Homeowners in the 90th percentile see tax bills as high as $1,143. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Rocky Top offers relatively affordable property taxes. The highest and lowest median tax bills in the area are both $536, indicating a consistent tax rate within the zip code 37769. Understanding these factors helps homeowners anticipate their annual expenses and highlights the importance of accurate property assessments.
Average Rocky Top Tax Bill
$536
Average Campbell County Tax Bill
$481
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Rocky Top, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37769 | $221 | $390 | $536 | $787 | $1,143 |
Source: Ownwell