Watauga, Tennessee Property Taxes
The median property tax rate in Watauga, TN is 0.54%, significantly lower than the national median of 0.99% and the Tennessee state median of 0.64%. With the median home value in Watauga, the typical annual property tax bill is $32, far below the national median of $2,690. Property taxes in Watauga are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Watauga'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 Watauga 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
Watauga, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$37
Ownwell’s Watauga Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Watauga with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Watauga 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 Watauga, Tennessee
Property taxes in Watauga, Tennessee, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Watauga is 0.54%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Watauga set these rates annually, and they can vary significantly across different neighborhoods. Each year, Watauga 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 Watauga's effective property tax rate to other areas in Tennessee and the national median. For comparison, the zip code 37694 has both the highest and lowest median property tax rate of 0.54%. Understanding how these areas compare with Watauga 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 Watauga 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 Watauga, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37694 | 0.53% | 0.54% | 0.54% | 0.54% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Watauga, Tennessee
In Watauga, 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 Appraisal District 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 Watauga, 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 Watauga is $6,900, and the tax bills range significantly. For instance, the 25th percentile tax bill is around $24, while the 75th percentile tax bill is approximately $58. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Watauga Assessed Value
$6,900
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 Watauga, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37694 | $3,900 | $4,575 | $6,900 | $27,800 | $82,450 |
Source: Ownwell
Property Tax Bills Across Watauga, Tennessee
In Watauga, TN, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the market value, reflecting the property's worth in the current real estate market. Washington County uses this assessed value to apply the local property tax rate, which influences the final tax bill. Several factors contribute to the assessed value, including the property's location, size, and condition. Homeowners in Watauga can expect a range of property tax bills. For instance, the 25th percentile tax bill is around $24, while the 75th percentile reaches approximately $58. At the higher end, the 90th percentile tax bill can be as much as $476. Compared to the national median property tax rate of 0.99%, Watauga's property tax rates are relatively modest, making it an attractive option for homeowners. Lower tax bills can ease the financial burden on residents, potentially increasing home affordability and overall satisfaction.
Average Watauga Tax Bill
$32
Average Washington County Tax Bill
$882
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Watauga, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37694 | $19 | $24 | $32 | $58 | $476 |
Source: Ownwell