Elizabethton, Tennessee Property Taxes
The median property tax rate in Elizabethton, 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 $98,900 in Elizabethton, the typical annual property tax bill is $596, well below the national median of $2,690. Property taxes in Elizabethton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Navigating Elizabethton'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 Elizabethton 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
Elizabethton, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$504
Ownwell’s Elizabethton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elizabethton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elizabethton 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 Elizabethton, Tennessee
Property taxes in Elizabethton, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elizabethton is 0.51%, which is considerably lower than the U.S. national median of 0.99%. Local government entities within Elizabethton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elizabethton 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 Elizabethton's effective property tax rate to other areas in Carter County and the national median. For comparison, the 37604 zip code has the highest median property tax rate of 0.51%, while the 37640 zip code has the lowest median tax rate of 0.51%. Understanding how these areas compare with Elizabethton provides valuable insights into the varying tax landscape across Carter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elizabethton Tax Rate
0.51%
Average Carter County Tax Rate
0.51%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elizabethton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37601 | 0.51% | 0.51% | 0.51% | 0.51% | 0.52% |
| 37604 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
| 37640 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
| 37643 | 0.51% | 0.51% | 0.51% | 0.90% | 0.90% |
| 37658 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
| 37687 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
| 37694 | 0.51% | 0.51% | 0.51% | 0.51% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Elizabethton, Tennessee
In Elizabethton, 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 local assessment authorities 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 Elizabethton, 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 Elizabethton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $623 in the 37643 zip code, while the lowest is $133 in the 37658 zip code.
Average Elizabethton Assessed Value
$98,900
Average Carter County Assessed Value
$94,100
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elizabethton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37601 | $9,490 | $17,125 | $27,400 | $57,900 | $101,690 |
| 37604 | $14,860 | $15,700 | $17,100 | $18,500 | $19,340 |
| 37640 | $18,360 | $30,325 | $41,300 | $54,000 | $100,610 |
| 37643 | $20,500 | $52,900 | $102,000 | $152,500 | $212,610 |
| 37658 | $9,000 | $15,800 | $26,200 | $36,000 | $84,700 |
| 37687 | $12,480 | $19,800 | $33,300 | $62,100 | $111,620 |
| 37694 | $13,600 | $27,000 | $58,300 | $75,700 | $105,040 |
Source: Ownwell
Property Tax Bills Across Elizabethton, Tennessee
In Elizabethton, Carter County, TN, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For example, with a median home price of $98,900, the assessed value is determined by local tax assessors. The tax rate is then applied to this assessed value to calculate the annual tax bill. Factors influencing the tax bill include the home's location within specific zip codes, which can lead to variations. For instance, the highest median tax bill in the area is $623 in zip code 37643, while the lowest is $133 in zip code 37658. Homeowners can expect tax bills ranging from $255 at the 25th percentile to $1,446 at the 90th percentile. Compared to the national median property tax rate of 0.99%, Elizabethton’s property taxes can be relatively manageable, yet they still impact homeowners' annual expenses significantly. Understanding these factors helps homeowners better anticipate their financial obligations.
Average Elizabethton Tax Bill
$596
Average Carter County Tax Bill
$529
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Elizabethton, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37601 | $48 | $89 | $144 | $307 | $555 |
| 37604 | $76 | $80 | $87 | $94 | $98 |
| 37640 | $93 | $154 | $210 | $274 | $510 |
| 37643 | $114 | $290 | $623 | $988 | $1,465 |
| 37658 | $46 | $80 | $133 | $183 | $430 |
| 37687 | $59 | $100 | $169 | $316 | $567 |
| 37694 | $69 | $137 | $296 | $404 | $552 |
Source: Ownwell