Pikeville, Tennessee Property Taxes
The median property tax rate in Pikeville, TN is 0.28%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Pikeville at $162,400, the typical annual property tax bill amounts to $461, far below the national median of $2,690. Property taxes in Pikeville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Pikeville's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're residing in Pikeville or another part of Cumberland County, gaining insight into the local property tax system will benefit both homeowners and real estate investors alike.
Last Updated June 14, 2024
Pikeville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$455
$422
Ownwell’s Pikeville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pikeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pikeville 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 Pikeville, Tennessee
Property taxes in Pikeville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pikeville is 0.28%, which is significantly lower than both the Tennessee state median of 0.68% and the U.S. national median of 0.99%. Local government entities within Pikeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pikeville 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 Pikeville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the highest median property tax rate in Tennessee is found in Williamson County at 0.89%, while the lowest median tax rate is in Pickett County at 0.31%. Understanding how these cities compare with Pikeville provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pikeville Tax Rate
0.28%
Average Cumberland County Tax Rate
0.28%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pikeville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37367 | 0.28% | 0.28% | 0.28% | 0.28% | 0.28% |
Source: Ownwell
Property Tax Assessment Values Across Pikeville, Tennessee
In Pikeville, 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 Cumberland 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 Pikeville, 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 Pikeville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median tax bill in Pikeville stands at $461, with the highest and lowest median tax bills both recorded in the 37367 zip code.
Average Pikeville Assessed Value
$162,400
Average Cumberland County Assessed Value
$180,600
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pikeville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37367 | $64,100 | $80,050 | $162,400 | $251,500 | $350,550 |
Source: Ownwell
Property Tax Bills Across Pikeville, Tennessee
In Pikeville, located in Cumberland County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For instance, the median home price in Pikeville is $162,400, and property tax bills can vary significantly. Homeowners in the 25th percentile pay around $227 annually, while those in the 75th percentile face bills of about $713. At the 90th percentile, the tax bill can reach up to $994. The highest and lowest median tax bills in the area both stand at $461, indicating some consistency in tax assessments. These property taxes are essential for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Pikeville Tax Bill
$461
Average Cumberland County Tax Bill
$512
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Pikeville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37367 | $182 | $227 | $461 | $713 | $994 |
Source: Ownwell