Loudon, Tennessee Property Taxes
The median property tax rate in Loudon, TN is 0.63%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Loudon at $25,200, the typical annual property tax bill is $158, significantly below the national median of $2,690. Property taxes in Loudon are determined based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. 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, comprehending 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
$2,500,000
$5,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$1,280
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 0.63%, which is 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 37774 zip code has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Loudon provides valuable insights into the varying tax landscape across Polk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Loudon Tax Rate
0.63%
Average Polk County Tax Rate
0.63%
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 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
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 local 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. Being aware of these valuation processes in Loudon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 37774 at $158, and the lowest is also 37774 at $158, reflecting a consistent tax environment across the area.
Average Loudon Assessed Value
$25,200
Average Polk County Assessed Value
$48,850
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 | $25,200 | $25,200 | $25,200 | $25,200 | $25,200 |
Source: Ownwell
Property Tax Bills Across Loudon, Tennessee
In Loudon, TN, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is typically a percentage of the property's market value. For instance, if a home has a median market price of $25,200, the assessed value is determined by applying the local assessment ratio. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. Homeowners in Loudon can expect a median tax bill around $158, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable in the region. While the tax bill may seem modest, it is crucial for homeowners to stay informed about any changes in assessment rates or local tax policies that could impact their annual property tax obligations.
Average Loudon Tax Bill
$158
Average Polk County Tax Bill
$310
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 | $158 | $158 | $158 | $158 | $158 |
Source: Ownwell