Mascot, Grainger County, Tennessee Property Taxes
The median property tax rate in Mascot, TN is 0.59%, lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $87,500 in Mascot, the typical annual property tax bill is $658, which is significantly below the national median of $2,690. Property taxes in Mascot are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Mascot'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 Mascot or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mascot, Grainger County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$516
$479
Ownwell’s Mascot Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mascot with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mascot 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 Mascot, Grainger County, Tennessee
Property taxes in Mascot, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mascot is 0.59%, which is lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Mascot set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mascot 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 Mascot's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37806 has both the highest and lowest median property tax rate of 0.59%. Understanding how these cities compare with Mascot provides valuable insights into the varying tax landscape across Grainger County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mascot Tax Rate
0.59%
Average Grainger County Tax Rate
0.59%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mascot, Grainger County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37806 | 0.30% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Mascot, Grainger County, Tennessee
In Mascot, 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 Grainger 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 Mascot, 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. In Mascot, the highest median tax bill is found in zip code 37806, with a value of $658. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Mascot, Grainger County, Tennessee
Source: Ownwell
$87,500
$123,050
$158,600
Average Mascot Assessed Value
$87,500
Average Grainger County Assessed Value
$110,900
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mascot, Grainger County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37806 | $8,240 | $10,550 | $87,500 | $170,100 | $240,440 |
Source: Ownwell
Property Tax Bills Across Mascot, Grainger County, Tennessee
In Mascot, located in Grainger County, TN, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the market value, which in this region is derived from the median home price of $87,500. Tax rates are applied to this assessed value to determine the annual tax bill. Various factors, such as property size, location, and improvements, influence the assessed value. Homeowners in Mascot can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $322, while those at the 75th percentile pay approximately $1,220. For the top 10% of homeowners, tax bills can reach up to $1,544. These figures highlight the range of property tax burdens within the community. Compared to the national median property tax rate of 0.99%, Mascot's rates reflect the local economic conditions and property values, directly impacting homeowners' annual financial obligations.
Average Mascot Tax Bill
$658
Average Grainger County Tax Bill
$597
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Mascot, Grainger County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37806 | $42 | $322 | $658 | $1,220 | $1,544 |
Source: Ownwell