Gatlinburg, Tennessee Property Taxes
The median property tax rate in Gatlinburg, TN is 0.40%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Gatlinburg at $254,300, the typical annual property tax bill is around $1,000, which is well below the national median of $2,690. Property taxes in Gatlinburg are calculated 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 Gatlinburg’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 Gatlinburg 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
Gatlinburg, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,017
$944
Ownwell’s Gatlinburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gatlinburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gatlinburg 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 Gatlinburg, Tennessee
Property taxes in Gatlinburg, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gatlinburg is 0.40%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Gatlinburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gatlinburg 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 Gatlinburg's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37738 zip code has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Gatlinburg 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 Gatlinburg Tax Rate
0.40%
Average Sevier County Tax Rate
0.37%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gatlinburg, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37738 | 0.37% | 0.37% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Gatlinburg, Tennessee
In Gatlinburg, 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 Sevier County Assessor 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 Gatlinburg, 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 Gatlinburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Gatlinburg is $254,300, with tax bills ranging from $607 at the 25th percentile to $2,238 at the 90th percentile. The zip code 37738 has both the highest and lowest median tax bills at $1,000.
Average Gatlinburg Assessed Value
$254,300
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 Gatlinburg, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37738 | $88,160 | $150,100 | $254,300 | $376,025 | $572,400 |
Source: Ownwell
Property Tax Bills Across Gatlinburg, Tennessee
In Gatlinburg, located in Sevier County, TN, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Gatlinburg stands at $254,300, and the tax rate is applied to this assessed value to determine the annual tax bill. Various factors contribute to the final bill, including the property's location, condition, and any improvements made. Homeowners in Gatlinburg can expect their property tax bills to vary significantly. For example, tax bills at the 25th percentile are around $607, while those at the 75th percentile reach $1,483. At the 90th percentile, tax bills can soar to $2,238. The median tax bill in the area is $1,000, which is considerably lower than the national median property tax rate of 0.99%. This relatively lower tax burden can make homeownership in Gatlinburg more affordable compared to other regions, offering a financial advantage to residents.
Average Gatlinburg Tax Bill
$1,000
Average Sevier County Tax Bill
$766
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Gatlinburg, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37738 | $362 | $607 | $1,000 | $1,483 | $2,238 |
Source: Ownwell