Mountain City, Tennessee Property Taxes
The median property tax rate in Mountain City, TN is 0.51%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Mountain City at $69,500, the typical annual property tax bill is $353, considerably below the national median of $2,690. Property taxes in Mountain City are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Mountain City'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 Mountain City or another part of Carter County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mountain City, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$354
Ownwell’s Mountain City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mountain City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mountain City 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 Mountain City, Tennessee
Property taxes in Mountain City, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mountain City is 0.51%, which is lower than the U.S. national median of 0.99%. Local government entities within Mountain City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mountain City 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 Mountain City's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37683 zip code has the highest median property tax rate of 0.51%, while the same zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Mountain City 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 Mountain City 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 Mountain City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37683 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Mountain City, Tennessee
In Mountain City, 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 Carter 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. Assessment notices in Mountain City 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 Mountain City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mountain City is $69,500, with the highest and lowest median tax bills both being $353 in the 37683 zip code.
Property Tax Assessment Values Across Mountain City, Tennessee
Source: Ownwell
$12,550
$168,375
$324,200
Average Mountain City Assessed Value
$69,500
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 Mountain City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37683 | $69,500 | $69,500 | $69,500 | $69,500 | $69,500 |
Source: Ownwell
Property Tax Bills Across Mountain City, Tennessee
In Mountain City, located in Carter County, TN, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. For homeowners in Mountain City, the median home price stands at $69,500. Property tax rates are applied to this assessed value to calculate the annual tax bill. Several factors influence the tax bill, including the property's assessed value, applicable tax rates, and any exemptions or deductions for which the homeowner may qualify. In Mountain City, the median property tax bill is $353, which is significantly lower than the national median property tax rate of 0.99%. This lower tax burden can be advantageous for homeowners, making it more affordable to own property in this area. Understanding how property taxes are calculated can help homeowners anticipate their annual expenses and plan their finances accordingly. Lower property taxes in Mountain City contribute to the overall affordability and attractiveness of living in this region.
Average Mountain City Tax Bill
$353
Average Carter County Tax Bill
$529
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mountain City, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37683 | $353 | $353 | $353 | $353 | $353 |
Source: Ownwell