Pigeon Forge, Tennessee Property Taxes
The median property tax rate in Pigeon Forge, TN is 0.55%, significantly lower than both the national median of 0.99% and Tennessee's state median of 0.64%. With a median home value of $143,050 in Pigeon Forge, the typical annual property tax bill amounts to $784, well below the national median of $2,690. Property taxes in Pigeon Forge are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Pigeon Forge'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 Pigeon Forge 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
Pigeon Forge, Tennessee Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
Ownwell’s Pigeon Forge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pigeon Forge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pigeon Forge 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 Pigeon Forge, Tennessee
Property taxes in Pigeon Forge, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pigeon Forge is 0.55%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Pigeon Forge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pigeon Forge 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 Pigeon Forge's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37863 zip code has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Pigeon Forge provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pigeon Forge Tax Rate
0.55%
Average Jefferson County Tax Rate
0.55%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pigeon Forge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37863 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Pigeon Forge, Tennessee
In Pigeon Forge, 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 Jefferson 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 Pigeon Forge, 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 Pigeon Forge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $784, found in the zip code 37863.
Average Pigeon Forge Assessed Value
$143,050
Average Jefferson County Assessed Value
$119,000
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pigeon Forge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37863 | $137,010 | $139,275 | $143,050 | $146,825 | $149,090 |
Source: Ownwell
Property Tax Bills Across Pigeon Forge, Tennessee
In Pigeon Forge, TN, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the tax rate set by the county. For instance, with a median home price of $143,050, homeowners can expect varying tax bills. The 25th percentile tax bill is around $763, while the 75th percentile tax bill reaches approximately $804, and the 90th percentile tax bill is about $817. These tax bills are relatively modest compared to the national median property tax rate of 0.99%. Homeowners in Pigeon Forge benefit from a lower tax burden, which can make owning property more affordable. However, it's essential to note that the exact tax bill can vary depending on the specific assessed value and any applicable exemptions. This system ensures that property taxes are equitably distributed based on property values within the community.
Average Pigeon Forge Tax Bill
$784
Average Jefferson County Tax Bill
$726
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Pigeon Forge, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37863 | $750 | $763 | $784 | $804 | $817 |
Source: Ownwell