Watauga, Tennessee Property Taxes
The median property tax rate in Watauga, TN is 0.51%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Watauga at $88,500, the typical annual property tax bill reaches $493, significantly below the national median of $2,690. Property taxes in Watauga 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 Watauga'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 Watauga 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
Watauga, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$451
$419
Ownwell’s Watauga Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Watauga with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Watauga 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 Watauga, Tennessee
Property taxes in Watauga, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Watauga is 0.51%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Watauga set these rates annually, and they can vary significantly across different neighborhoods. Each year, Watauga 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 Watauga's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37601 zip code has the highest median property tax rate of 0.51%, while the 37694 zip code has the lowest median tax rate of 0.51%. Understanding how these cities compare with Watauga 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 Watauga 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 Watauga, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37601 | 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% |
| 37694 | 0.51% | 0.51% | 0.51% | 0.51% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Watauga, Tennessee
In Watauga, 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 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. For example, Watauga's highest median tax bill is $532 in zip code 37694, while the lowest is $124 in zip code 37601. 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 Watauga helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Watauga Assessed Value
$88,500
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 Watauga, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37601 | $12,740 | $17,150 | $24,500 | $31,850 | $36,260 |
| 37643 | $10,720 | $18,100 | $35,800 | $61,200 | $73,320 |
| 37658 | $6,100 | $7,650 | $12,550 | $13,325 | $24,200 |
| 37694 | $21,800 | $42,400 | $96,300 | $156,800 | $210,900 |
Source: Ownwell
Property Tax Bills Across Watauga, Tennessee
In Watauga, TN, property tax bills are calculated based on the assessed value of your home. The assessment process involves determining the market value of your property, which is then multiplied by the assessment ratio set by the state. For residential properties in Tennessee, this ratio is typically 25% of the market value. Once the assessed value is established, the local tax rate, set by Carter County, is applied to calculate the annual property tax bill. Several factors influence your tax bill, including the market value of your home and the specific tax rate in your area. For instance, in Watauga, the median home price is $88,500. Homeowners in the 25th percentile pay around $204 annually, while those in the 75th percentile see bills closer to $812. At the 90th percentile, the tax bill can reach up to $1,124. These figures illustrate the variation in property tax bills, which can significantly impact homeowners' finances. Compared to the national median property tax rate of 0.99%, Watauga's property tax rates are relatively moderate.
Average Watauga Tax Bill
$493
Average Carter County Tax Bill
$529
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Watauga, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37601 | $65 | $87 | $124 | $162 | $184 |
| 37643 | $82 | $113 | $235 | $356 | $549 |
| 37658 | $31 | $39 | $64 | $68 | $123 |
| 37694 | $114 | $228 | $532 | $840 | $1,140 |
Source: Ownwell