Crossville, Tennessee Property Taxes
The median property tax rate in Crossville, TN is 0.41%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Crossville at $228,300, the typical annual property tax bill amounts to $939, well below the national median of $2,690. Property taxes in Crossville are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Crossville'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 Crossville 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
Crossville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.41%
Estimate Property Tax Bill
$936
$869
Ownwell’s Crossville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crossville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crossville 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 Crossville, Tennessee
Property taxes in Crossville, Tennessee, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crossville is 0.41%, lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Crossville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crossville 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 Crossville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 38555 zip code has the highest median property tax rate of 0.41%, while the same zip code also has the lowest median tax rate of 0.41%. Understanding how these cities compare with Crossville provides valuable insights into the varying tax landscape across Sevier County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crossville Tax Rate
0.41%
Average Sevier County Tax Rate
0.37%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crossville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38555 | 0.41% | 0.41% | 0.41% | 0.41% | 0.41% |
Source: Ownwell
Property Tax Assessment Values Across Crossville, Tennessee
In Crossville, 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 county 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 Crossville, 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 Crossville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $939, found in zip code 38555.
Average Crossville Assessed Value
$228,300
Average Sevier County Assessed Value
$196,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crossville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38555 | $228,300 | $228,300 | $228,300 | $228,300 | $228,300 |
Source: Ownwell
Property Tax Bills Across Crossville, Tennessee
In Crossville, located in Sevier County, TN, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is a percentage of the property's market value. For homeowners in Crossville, the median home price is $228,300, which significantly influences the tax bill. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. In Crossville, the property tax rate is relatively low compared to the national median property tax rate of 0.99%. Homeowners here can expect a median tax bill of $939, which is consistent across various percentiles, indicating a stable and predictable tax environment. This relatively low tax burden can make Crossville an attractive place for homeowners, as it allows them to allocate more of their budget towards other expenses or investments. Understanding how these factors interplay helps homeowners anticipate their financial obligations and plan accordingly.
Average Crossville Tax Bill
$939
Average Sevier County Tax Bill
$766
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Crossville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38555 | $939 | $939 | $939 | $939 | $939 |
Source: Ownwell