Loudon, Tennessee Property Taxes
The median property tax rate in Loudon, TN is 0.56%, significantly lower than both the national median of 0.99% and Tennessee's state median of 0.64%. With a median home value in Loudon of $100,150, the typical annual property tax bill is $566, far below the national median of $2,690. Property taxes in Loudon are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Loudon'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 Loudon 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
Loudon, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$561
$520
Ownwell’s Loudon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Loudon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Loudon 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 Loudon, Tennessee
Property taxes in Loudon, Tennessee, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Loudon is 0.56%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Loudon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Loudon 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 Loudon's effective property tax rate to other counties in Tennessee and the national median. For comparison, the zip code 37774 has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Loudon provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Loudon Tax Rate
0.56%
Average Monroe County Tax Rate
0.56%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Loudon, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37774 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Loudon, Tennessee
In Loudon, 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 Monroe 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 Loudon, 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. The median home price in Loudon is $100,150, with tax bills ranging from $342 at the 25th percentile to $1,294 at the 90th percentile. The zip code 37774 has the highest and lowest median tax bill at $566. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Loudon Assessed Value
$100,150
Average Monroe County Assessed Value
$118,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Loudon, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37774 | $27,300 | $56,725 | $100,150 | $177,050 | $231,170 |
Source: Ownwell
Property Tax Bills Across Loudon, Tennessee
In Loudon, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners, this process starts with the local tax assessor determining the market value of their property. This value is then multiplied by the assessment ratio, which in Tennessee is typically 25% for residential properties. The assessed value is then subject to the local tax rate, which varies by jurisdiction within the county. Factors that influence the tax bill include the market value of the home, the assessment ratio, and the local tax rate. For instance, with a median home price of $100,150, homeowners in Loudon can expect their tax bills to vary significantly. The 25th percentile tax bill is around $342, while the 75th percentile tax bill is approximately $992, and the 90th percentile tax bill can reach up to $1,294. These variations can impact homeowners' annual budgets, making it essential to understand how property taxes are calculated and what factors contribute to the final amount.
Average Loudon Tax Bill
$566
Average Monroe County Tax Bill
$742
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Loudon, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37774 | $153 | $342 | $566 | $992 | $1,294 |
Source: Ownwell