Sevierville, Tennessee Property Taxes
The median property tax rate in Sevierville, TN is 0.37%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $198,600 in Sevierville, the typical annual property tax bill is $790, which is well below the national median of $2,690. Property taxes in Sevierville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Sevierville'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 Sevierville or another part of the city, becoming familiar with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sevierville, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$735
$682
Ownwell’s Sevierville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sevierville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sevierville 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 Sevierville, Tennessee
Property taxes in Sevierville, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sevierville is 0.37%, significantly lower than the U.S. national median of 0.99%. Local government entities within Sevierville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sevierville 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 Sevierville's effective property tax rate to other counties in Tennessee and the national median. For comparison, the highest median property tax rate in Tennessee is 0.74%, while the lowest median tax rate is 0.25%. Understanding how these cities compare with Sevierville 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 Sevierville Tax Rate
0.37%
Average Sevier County Tax Rate
0.37%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sevierville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37862 | 0.37% | 0.37% | 0.37% | 0.48% | 0.48% |
| 37863 | 0.37% | 0.37% | 0.37% | 0.37% | 0.37% |
| 37876 | 0.37% | 0.37% | 0.37% | 0.37% | 0.37% |
Source: Ownwell
Property Tax Assessment Values Across Sevierville, Tennessee
In Sevierville, 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 Property 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. 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 Sevierville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Sevierville is $978 in the 37863 zip code, while the lowest is $698 in the 37876 zip code.
Average Sevierville Assessed Value
$198,600
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 Sevierville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37862 | $82,700 | $146,475 | $216,700 | $340,325 | $509,690 |
| 37863 | $187,050 | $226,900 | $264,550 | $357,625 | $380,100 |
| 37876 | $51,150 | $111,200 | $186,600 | $278,300 | $387,400 |
Source: Ownwell
Property Tax Bills Across Sevierville, Tennessee
In Sevierville, property tax bills are calculated based on the assessed value of a home, which is determined by the Sevier County property assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors influencing the tax bill include the home's market value, property classification, and any applicable exemptions or deductions. For homeowners in Sevierville, the median home price is $198,600. Property tax bills vary significantly, with the 25th percentile at $478 and the 75th percentile at $1,171. At the 90th percentile, property taxes can reach up to $1,711 annually. The highest median tax bill in Sevierville is $978 in the 37863 zip code, while the lowest median tax bill is $698 in the 37876 zip code. Compared to the national median property tax rate of 0.99%, Sevierville's property tax rates can be relatively favorable, offering some financial relief to homeowners. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances effectively.
Average Sevierville Tax Bill
$790
Average Sevier County Tax Bill
$766
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Sevierville, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37862 | $333 | $606 | $902 | $1,360 | $2,007 |
| 37863 | $692 | $840 | $978 | $1,323 | $1,406 |
| 37876 | $188 | $414 | $698 | $1,059 | $1,510 |
Source: Ownwell