Riceville, Mcminn County, Tennessee Property Taxes

Name: Property Tax Bills Across Riceville, Mcminn County, Tennessee
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Riceville, TN effective property tax rate: 0.42%, significantly lower than the national median of 1.02%, but lower than the Tennessee state median of 0.64%.
Median Riceville, TN home value: $134,600
Median annual Riceville, TN tax bill: $581, $1,819 lower than the national median property tax bill of $2,400.

How are property taxes in McMinn County calculated?

Property taxes in Riceville, TN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Riceville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Riceville, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Riceville, Mcminn County, Tennessee Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.42%

Estimate Property Tax Bill

$565

$525

Ownwell’s Riceville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Riceville with just two data points. By entering your property's estimated assessed value, our calculator applies Riceville’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in McMinn County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Riceville, Mcminn County, Tennessee

Local government entities set tax rates, which can vary widely within Tennessee. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Riceville’s effective property tax rate to other cities in Tennessee and the median property tax rates in Tennessee and the U.S.

Property Tax Rates Across Riceville, Mcminn County, Tennessee

Source: Ownwell

0.38%

0.55%

0.72%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Riceville Tax Rate

0.42%

Median Effective Mcminn County Tax Rate

0.48%

Median Effective Tennessee Tax Rate

0.64%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Riceville, Mcminn County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
37370	0.37%	0.40%	0.42%	0.46%	0.55%

Source: Ownwell

Property Tax Assessment Values Across Riceville, Mcminn County, Tennessee

When examining property taxes in Riceville, TN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The McMinn County Assessor’s Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In McMinn County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Riceville. For example, the median home price in Riceville is $134,600, with tax bills ranging significantly across the county. 37370 has the highest median home price at $134,600.

Property Tax Assessment Values Across Riceville, Mcminn County, Tennessee

Source: Ownwell

$87,000

$114,925

$142,850

Median Riceville Market Value

$134,600

Median Mcminn County Market Value

$107,800

Median Tennessee Market Value

$173,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Riceville, Mcminn County, Tennessee

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
37370	$44,020	$80,200	$134,600	$196,700	$270,500

Source: Ownwell

Property Tax Bills Across Riceville, Mcminn County, Tennessee

In Riceville, located in McMinn County, TN, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the property's location, size, and improvements can influence the assessed value. In Riceville, homeowners typically receive tax bills significantly lower than the national median property tax bill of $2,400, with a median tax bill of $581. This is due to the relatively low median home price of $134,600 in the area. Homeowners in Riceville may find their tax bills ranging from $373 at the 25th percentile to $1,107 at the 90th percentile. Ownwell assists homeowners by providing property tax appeal services, potentially reducing their tax burden. By analyzing property assessments and identifying discrepancies, Ownwell can help homeowners ensure they are not overpaying on their property taxes, leading to significant savings and peace of mind.

Property Tax Bills Across Riceville, Mcminn County, Tennessee

Source: Ownwell

$391

$540

$688

Median Riceville Tax Bill

$581

Median Mcminn County Tax Bill

$618

Median Tennessee Tax Bill

$1,206

Median United States Tax Bill

$2,400

Property Tax Bills Across Riceville, Mcminn County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
37370	$203	$373	$581	$832	$1,107

Source: Ownwell