Tazewell, Claiborne County, Tennessee Property Taxes
The median property tax rate in Tazewell, TN is 0.58%, significantly lower than both the national median of 0.99% and Tennessee's state median of 0.64%. With the median home value in Tazewell at $112,400, the typical annual property tax bill is $661, which is well below the national median of $2,690. Property taxes in Tazewell are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tazewell'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 Tazewell or another part of Claiborne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tazewell, Claiborne County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$652
$605
Ownwell’s Tazewell Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Tazewell with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Tazewell to provide an estimate of your property tax bill. This intuitive tool helps you gauge potential tax liabilities effectively. For those interested in more detailed trends at the neighborhood level, more localized information is available by scrolling down. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Tazewell, Claiborne County, Tennessee
Property taxes in Tazewell, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tazewell is 0.58%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Tazewell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tazewell 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 Tazewell's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37879 zip code has both the highest and lowest median property tax rate of 0.58%. Understanding how these areas compare with Tazewell provides valuable insights into the varying tax landscape across Claiborne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tazewell Tax Rate
0.58%
Average Claiborne County Tax Rate
0.58%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tazewell, Claiborne County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37879 | 0.57% | 0.57% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Tazewell, Claiborne County, Tennessee
In Tazewell, 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 Claiborne 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 Tazewell, 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. The median home price in Tazewell is $112,400, with tax bills ranging from $384 at the 25th percentile to $1,415 at the 90th percentile. Notably, the highest and lowest median tax bills are both $661 in the zip code 37879. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Tazewell, Claiborne County, Tennessee
Source: Ownwell
$30,600
$84,150
$137,700
Average Tazewell Assessed Value
$112,400
Average Claiborne County Assessed Value
$114,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tazewell, Claiborne County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37879 | $25,100 | $63,700 | $112,400 | $164,300 | $239,240 |
Source: Ownwell
Property Tax Bills Across Tazewell, Claiborne County, Tennessee
In Tazewell, located in Claiborne County, TN, property tax bills are determined based on the assessed value of a home. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to calculate the tax bill. For example, with a median home price of $112,400, homeowners can expect varying tax bills depending on their property's assessed value and the applicable tax rate. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. In Tazewell, tax bills can range significantly, from the 25th percentile at $384 to the 75th percentile at $964, and even up to the 90th percentile at $1,415. This variation means that homeowners' tax burdens can differ widely, impacting their annual financial planning. Compared to the national median property tax rate of 0.99%, Tazewell's property tax rates reflect the local economic conditions and governmental budget requirements, which can either ease or burden homeowners depending on their specific circumstances.
Average Tazewell Tax Bill
$661
Average Claiborne County Tax Bill
$680
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Tazewell, Claiborne County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37879 | $159 | $384 | $661 | $964 | $1,415 |
Source: Ownwell