Harriman, Tennessee Property Taxes
The median property tax rate in Harriman, TN is 0.60%, which is lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value in Harriman of $100,750, the typical annual property tax bill is $696, significantly below the national median of $2,690. Property taxes in Harriman are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Harriman'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 Harriman or another part of Roane County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harriman, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$605
$561
Ownwell’s Harriman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harriman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harriman 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 Harriman, Tennessee
Property taxes in Harriman, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harriman is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Harriman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harriman 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 Harriman's effective property tax rate to other areas in Roane County and the national median. For comparison, the 37748 zip code has the highest median property tax rate of 0.60%, while the 37748 zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Harriman provides valuable insights into the varying tax landscape across Roane County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harriman Tax Rate
0.60%
Average Roane County Tax Rate
0.60%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harriman, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37748 | 0.60% | 0.60% | 0.60% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Harriman, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Harriman, Tennessee. 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 Roane 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 Harriman, 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. For example, the median home price in Harriman is $100,750, with tax bills ranging from $413 at the 25th percentile to $1,606 at the 90th percentile. The zip code 37748 has both the highest and lowest median tax bill at $696. By understanding 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 Harriman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harriman Assessed Value
$100,750
Average Roane County Assessed Value
$132,200
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harriman, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37748 | $31,890 | $57,300 | $100,750 | $160,600 | $252,410 |
Source: Ownwell
Property Tax Bills Across Harriman, Tennessee
In Harriman, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, homes in Harriman have a median home price of $100,750. The property tax rate in this area is 0.69%, which is below the national median property tax rate of 0.99%. This means homeowners in Harriman generally pay lower property taxes compared to the national average. The tax bill is influenced by several factors including the assessed value of the property and the local tax rate. For example, the tax bill for the 25th percentile is $413, while for the 75th percentile it is $1077, and for the 90th percentile, it reaches $1606. These figures indicate that as the value of the property increases, so does the tax bill. Homeowners in Harriman can expect their property tax bills to vary significantly based on their property's assessed value, impacting their overall financial planning and housing costs.
Average Harriman Tax Bill
$696
Average Roane County Tax Bill
$896
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Harriman, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37748 | $212 | $413 | $696 | $1,077 | $1,606 |
Source: Ownwell