Cosby, Sevier County, Tennessee Property Taxes
Median Cosby, TN effective property tax rate: 0.37%, significantly lower than the national median of 1.02%, and also lower than the Tennessee state median of 0.64%.
Median Cosby, TN home value: $59,600
Median annual Cosby, TN tax bill: $220, $2,180 lower than the national median property tax bill of $2,400.
How are property taxes in Sevier County calculated?
Property taxes in Cosby, 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 Cosby’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cosby, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cosby, Sevier County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.37%
Estimate Property Tax Bill
$221
$205
Property Tax Rates Across Cosby, Sevier County, Tennessee
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services annually 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 Cosby's effective property tax rate to other cities in Tennessee and the median property tax rates in Tennessee and the U.S.
Cosby in Sevier County, Tennessee, has an effective property tax rate that stands significantly below the national median property tax rate of 1.02%. This lower rate reflects the local government's budgetary needs and the total assessed property value within the county. In contrast to the national median property tax bill of $2400, property owners in Cosby benefit from comparatively lower property tax bills. This can be an attractive factor for potential homeowners and investors looking for properties in areas with lower tax burdens. Understanding these rates can help property owners make informed decisions about their investments and financial planning.
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 Cosby Tax Rate
0.37%
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 Sevier County Tax Rate
0.37%
Median Effective Tennessee Tax Rate
0.64%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Cosby, Sevier County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37722 | 0.37% | 0.37% | 0.37% | 0.37% | 0.37% |
Source: Ownwell
Property Tax Assessment Values Across Cosby, Sevier County, Tennessee
When examining property taxes in Cosby, Tennessee, 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 Sevier County Tax 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 Sevier County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Cosby. For example, the median home price in Cosby is $59,600, with tax bills ranging significantly across the county. Zip code 37722 has the highest median home price at $59,600.
Property Tax Assessment Values Across Cosby, Sevier County, Tennessee
Source: Ownwell
$59,600
$156,950
$254,300
Median Cosby Market Value
$59,600
Median Sevier County Market Value
$196,500
Median Tennessee Market Value
$173,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Cosby, Sevier County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37722 | $20,100 | $26,000 | $59,600 | $123,300 | $195,800 |
Source: Ownwell
Property Tax Bills Across Cosby, Sevier County, Tennessee
In Cosby, located in Sevier County, TN, property tax bills are calculated based on the assessed value of a home. The assessment process involves determining a percentage of the home's market value, which is then multiplied by the local tax rate. With a median home price of $59,600, property taxes here are relatively low compared to the national median tax bill of $2,400. In Cosby, the median tax bill is $220, which is significantly below the national average. Homeowners in this area can anticipate tax bills ranging between $96 at the 25th percentile and $725 at the 90th percentile.
Factors influencing these tax bills include changes in property value and local tax rates. For homeowners seeking to reduce their property tax burden, Ownwell offers expert property tax appeal and exemption services. By leveraging local market insights and legal expertise, Ownwell can help ensure that homeowners are not overpaying on their property taxes, potentially saving them money and providing peace of mind.
Median Cosby Tax Bill
$220
Median Sevier County Tax Bill
$766
Median Tennessee Tax Bill
$1,206
Median United States Tax Bill
$2,400
Property Tax Bills Across Cosby, Sevier County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37722 | $75 | $96 | $220 | $457 | $725 |
Source: Ownwell