Loudon, Roane County, Tennessee Property Taxes
The median property tax rate in Loudon, TN is 0.60%, 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 $113,900, the typical annual property tax bill reaches $681, significantly less than the national median of $2,690. Property taxes in Loudon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Loudon's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant 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, Roane County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$683
$634
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, Roane County, Tennessee
Property taxes in Loudon, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Loudon is 0.60%, 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. Understanding how these cities compare with Loudon 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 Loudon 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 Loudon, Roane County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37774 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Loudon, Roane County, 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 median home price in Loudon is $113,900, with a tax bill at the 25th percentile of $350 and at the 75th percentile of $1,259. The highest and lowest median tax bills are both $681, found in the 37774 zip code.
Property Tax Assessment Values Across Loudon, Roane County, Tennessee
Source: Ownwell
$94,550
$154,675
$214,800
Average Loudon Assessed Value
$113,900
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 Loudon, Roane County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37774 | $30,360 | $58,550 | $113,900 | $209,550 | $358,840 |
Source: Ownwell
Property Tax Bills Across Loudon, Roane County, 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. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, in Loudon, the median home price is $113,900. Depending on various factors such as property location and specific tax rates, homeowners can expect to pay a property tax bill that ranges significantly. The 25th percentile tax bill is around $350, while the 75th percentile tax bill reaches up to $1,259. At the higher end, the 90th percentile tax bill can be as much as $2,154. These figures highlight the variability in property taxes within the region and how they can impact homeowners differently. Compared to the national median property tax rate of 0.99%, Loudon's tax rates offer a diverse range, reflecting the area's unique property values and tax regulations.
Average Loudon Tax Bill
$681
Average Roane County Tax Bill
$896
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Loudon, Roane County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37774 | $182 | $350 | $681 | $1,259 | $2,154 |
Source: Ownwell