Greeneville, Tennessee Property Taxes
The median property tax rate in Greeneville, TN is 0.64%, aligning with the state median but lower than the national median of 0.99%. With a median home value of $129,100 in Greeneville, the typical annual property tax bill amounts to $697, significantly below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often less than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Greeneville'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 Greeneville or another part of Cocke County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greeneville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$826
Ownwell’s Greeneville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Greeneville with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Greeneville to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the figure assigned by the county for property tax purposes, factoring in any applicable exemptions.
Property Tax Rates Across Greeneville, Tennessee
Property taxes in Greeneville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greeneville is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Greeneville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greeneville 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 Greeneville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37743 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Greeneville provides valuable insights into the varying tax landscape across Cocke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greeneville Tax Rate
0.64%
Average Cocke County Tax Rate
0.64%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greeneville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37743 | 0.64% | 0.64% | 0.64% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Greeneville, Tennessee
In Greeneville, 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 local 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 Greeneville, 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 Greeneville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 37743 has the highest and lowest median tax bill, both at $697.
Average Greeneville Assessed Value
$129,100
Average Cocke County Assessed Value
$94,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greeneville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37743 | $33,880 | $62,900 | $129,100 | $176,000 | $227,220 |
Source: Ownwell
Property Tax Bills Across Greeneville, Tennessee
In Greeneville, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $129,100, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $357, while those in the 75th percentile face bills of up to $1,116. The 90th percentile sees even higher bills, reaching $1,381. Factors influencing the tax bill include the home's market value, local assessment rates, and applicable exemptions or deductions. In Greeneville, the highest median tax bill is $697, which is notably lower than the national median property tax rate of 0.99%. This relatively lower tax burden can make homeownership more affordable, but it also means that local services funded by property taxes may receive less revenue. Consequently, homeowners should be aware of how these taxes impact both their finances and community resources.
Average Greeneville Tax Bill
$697
Average Cocke County Tax Bill
$618
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Greeneville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37743 | $171 | $357 | $697 | $1,116 | $1,381 |
Source: Ownwell