Kingsport, Tennessee Property Taxes
The median property tax rate in Kingsport, TN is 0.54%, considerably lower than both the national median of 0.99% and the Tennessee state median of 0.64%. With a median home value of $152,500 in Kingsport, the typical annual property tax bill amounts to $826, significantly below the national median of $2,690. Property taxes in Kingsport are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Kingsport'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 Kingsport 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
Kingsport, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$824
$764
Ownwell’s Kingsport Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Kingsport with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Kingsport to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends, localized information is available below. Your property’s assessed value is determined by the county for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Kingsport, Tennessee
Property taxes in Kingsport, Tennessee, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingsport is 0.54%, which is lower than the U.S. national median of 0.99%. Local government entities within Kingsport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kingsport 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 Kingsport's effective property tax rate to other counties in Tennessee and the national median. For comparison, the 37660 ZIP code has the highest median property tax rate of 0.54%, while the 37663 ZIP code has the lowest median tax rate of 0.54%. Understanding how these cities compare with Kingsport provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kingsport Tax Rate
0.54%
Average Washington County Tax Rate
0.54%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kingsport, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37660 | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
| 37663 | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Kingsport, Tennessee
In Kingsport, 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 Washington 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 Kingsport, 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 Kingsport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Kingsport is $826 in the 37663 zip code, while the lowest is $647 in the 37660 zip code.
Average Kingsport Assessed Value
$152,500
Average Washington County Assessed Value
$131,500
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kingsport, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37660 | $120,300 | $120,300 | $120,300 | $120,300 | $120,300 |
| 37663 | $30,170 | $105,325 | $152,600 | $188,450 | $275,730 |
Source: Ownwell
Property Tax Bills Across Kingsport, Tennessee
In Kingsport, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. Homeowners in Kingsport can expect their tax bills to vary significantly depending on their property's assessed value and the local tax rate set by Washington County. For instance, the median home price in Kingsport is $152,500. Property tax bills in the area range from the 25th percentile at $579 to the 75th percentile at $1,014, with the 90th percentile reaching up to $1,481. The highest median tax bill in the area is $826 in the 37663 zip code, while the lowest is $647 in the 37660 zip code. Homeowners should be aware that these taxes fund essential public services such as schools, infrastructure, and emergency services. Understanding how property tax bills are calculated can help homeowners better anticipate their annual expenses and plan their budgets accordingly.
Average Kingsport Tax Bill
$826
Average Washington County Tax Bill
$882
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Kingsport, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37660 | $647 | $647 | $647 | $647 | $647 |
| 37663 | $164 | $576 | $826 | $1,014 | $1,482 |
Source: Ownwell