Strawberry Plains, Tennessee Property Taxes
The median property tax rate in Strawberry Plains, TN is 0.37%, significantly lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Strawberry Plains at $127,000, the typical annual property tax bill comes to $458, well below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which usually falls below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Strawberry Plains' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Strawberry Plains or another part of Sevier County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Strawberry Plains, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$470
$436
Ownwell’s Strawberry Plains Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Strawberry Plains with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Strawberry Plains 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 Strawberry Plains, Tennessee
Property taxes in Strawberry Plains, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Strawberry Plains is 0.37%, significantly lower than both the Tennessee state median and the U.S. national median of 0.99%. Local government entities within Strawberry Plains set these rates annually, and they can vary significantly across different neighborhoods. Each year, Strawberry Plains 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 Strawberry Plains' effective property tax rate to other counties in Tennessee and the national median. Understanding how these cities compare with Strawberry Plains 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 Strawberry Plains 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 Strawberry Plains, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37871 | 0.37% | 0.37% | 0.37% | 0.37% | 0.37% |
Source: Ownwell
Property Tax Assessment Values Across Strawberry Plains, Tennessee
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Strawberry Plains, Tennessee. 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 Assessment Office 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 Strawberry Plains, 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. The median home price in Strawberry Plains is $127,000. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The zip code 37871 has both the highest and lowest median tax bill at $458. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Strawberry Plains, Tennessee
Source: Ownwell
$18,400
$443,025
$867,650
Average Strawberry Plains Assessed Value
$127,000
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 Strawberry Plains, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37871 | $34,060 | $65,800 | $127,000 | $166,450 | $227,160 |
Source: Ownwell
Property Tax Bills Across Strawberry Plains, Tennessee
In Strawberry Plains, 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 local tax rate is then applied to this assessed value to determine the final tax bill. Factors influencing the tax bill include the property's market value, local tax rates, and any applicable exemptions or deductions. For instance, the median home price in Strawberry Plains is $127,000. Homeowners can expect their tax bills to vary, with the 25th percentile paying around $238 and the 75th percentile facing a bill of approximately $609. For those in the 90th percentile, the tax bill can reach up to $835. The highest and lowest median tax bills in the area are both $458, corresponding to the zip code 37871. Compared to the national median property tax rate of 0.99%, the rates in Strawberry Plains are relatively moderate, offering some financial relief to homeowners while still supporting local services and infrastructure.
Average Strawberry Plains Tax Bill
$458
Average Sevier County Tax Bill
$766
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Strawberry Plains, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37871 | $125 | $238 | $458 | $609 | $835 |
Source: Ownwell