Mosheim, Tennessee Property Taxes
The median property tax rate in Mosheim, TN is 0.64%, which is significantly lower than the national median of 0.99% and aligns with the Tennessee state median of 0.64%. With a median home value of $141,850 in Mosheim, the typical annual property tax bill amounts to $896, well below the national median of $2,690. Property taxes in Mosheim are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Mosheim'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 Mosheim 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
Mosheim, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$908
Ownwell’s Mosheim Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mosheim with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mosheim 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 Mosheim, Tennessee
Property taxes in Mosheim, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mosheim is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Mosheim set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mosheim 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 Mosheim's effective property tax rate to other areas in Cocke County and the national median. For comparison, the zip code 37818 in Cocke County has both the highest and lowest median property tax rate of 0.64%. Understanding how these areas compare with Mosheim 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 Mosheim 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 Mosheim, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37818 | 0.64% | 0.64% | 0.64% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Mosheim, Tennessee
In Mosheim, 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 Cocke 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 Mosheim, 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 instance, in the 37818 zip code, the median tax bill is $896. 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 Mosheim helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mosheim Assessed Value
$141,850
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 Mosheim, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37818 | $69,960 | $116,175 | $141,850 | $191,275 | $294,340 |
Source: Ownwell
Property Tax Bills Across Mosheim, Tennessee
In Mosheim, located in Cocke County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Mosheim is $141,850. Property tax rates are applied to the assessed value, resulting in the final tax bill. The national median property tax rate stands at 0.99%, and while Tennessee generally has lower rates, the specific rate in Mosheim will influence the overall tax burden. Factors such as property size, location, and improvements can affect the assessed value, thereby impacting the tax bill. For homeowners, this means that any changes to their property could result in a higher or lower tax bill. In Mosheim, tax bills can range significantly, with the 25th percentile at $654 and the 75th percentile at $990. At the 90th percentile, tax bills can reach up to $1,322. Understanding these factors helps homeowners anticipate and manage their annual property tax obligations effectively.
Average Mosheim Tax Bill
$896
Average Cocke County Tax Bill
$618
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mosheim, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37818 | $439 | $654 | $896 | $990 | $1,322 |
Source: Ownwell