Blaine, Tennessee Property Taxes
The median property tax rate in Blaine, TN is 0.39%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Blaine, the typical annual property tax bill amounts to $670, which is well below the national median of $2,690. Property taxes in Blaine are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Blaine'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 Blaine 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
Blaine, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$703
$652
Ownwell’s Blaine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blaine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blaine 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 Blaine, Tennessee
Property taxes in Blaine, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blaine is 0.59%, which is higher than the Tennessee state median of 0.52% but lower than the U.S. national median of 0.99%. Local government entities within Blaine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blaine 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 Blaine's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37919 zip code has the highest median property tax rate of 0.73%, while the 37849 zip code has the lowest median tax rate of 0.37%. Understanding how these cities compare with Blaine provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blaine Tax Rate
0.39%
Average Knox County Tax Rate
0.39%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blaine, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37709 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Blaine, Tennessee
In Blaine, 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 Knox 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 Blaine, 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. Blaine's median home price is $180,200, with tax bills ranging from $316 at the 25th percentile to $1,278 at the 90th percentile. The highest and lowest median tax bills, both at $670, are found in the 37709 zip code. Being aware of these valuation processes in Blaine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Blaine Assessed Value
$180,200
Average Knox County Assessed Value
$222,300
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blaine, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37709 | $46,600 | $98,800 | $180,200 | $256,100 | $372,440 |
Source: Ownwell
Property Tax Bills Across Blaine, Tennessee
In Blaine, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For example, with a median home price of $180,200, the assessed value is determined by multiplying this market value by the assessment ratio set by the state. The property tax rate, applied to this assessed value, varies within the county. Factors such as local tax rates and any applicable exemptions also influence the final tax bill. In Blaine, the tax bills can vary significantly, as seen in the 25th percentile tax bill of $316 and the 75th percentile tax bill of $981. At the higher end, the 90th percentile tax bill reaches $1,278. Homeowners in Blaine can anticipate their tax bills impacting their annual budget, with variations depending on their home's assessed value and the specific tax rates in their area. This calculation method ensures that property taxes are proportionate to the value of the property, aligning with the national median property tax rate of 0.99%.
Average Blaine Tax Bill
$670
Average Knox County Tax Bill
$1,143
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Blaine, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37709 | $156 | $316 | $670 | $981 | $1,278 |
Source: Ownwell