taxes for counties (Maryville, Newport, Pigeon Forge: house, property tax rates, live in)

[farmerandpoet]

my husband and I have been looking to relocate to the east Tennessee area and have been keeping an eye on the housing market. Can anyone tell us why what we would term as the huge differences in property taxes for counties such as Sevier, Blount, Jefferson, and Cocke?

[JMT]

Originally Posted by farmerandpoet

my husband and I have been looking to relocate to the east Tennessee area and have been keeping an eye on the housing market. Can anyone tell us why what we would term as the huge differences in property taxes for counties such as Sevier, Blount, Jefferson, and Cocke?

Here are the property tax rates for every county and every city in Tennessee for 2007:

TN Comptroller of the Treasury - Division of Property Assessments - 2007 Property Tax Rates (http://www.comptroller1.state.tn.us/PAnew/LR.asp?W=07 - broken link)

[farmerandpoet]

are those totals for the property taxes per 1 k ? I know I sound stupid .I am sorry for that, we have seen several homes and for example, a home a mile out of Pigeon Forge priced 100k taxes are 7 to 9 hundred, a home in or near Maryville priced the same is around 4 to 6 hundred, and a home near, and Dandridge area about the same, but then in the same county a home priced the same near Newport is a lot less. I guess to us it makes no sence that the community closest to the GSM national park would be more costly as the park would bring in so much cash from vacationers and such. any insight would be great. And thank you so much for the table of property taxes.

[JMT]

Originally Posted by farmerandpoet

are those totals for the property taxes per 1 k ? I know I sound stupid .I am sorry for that, we have seen several homes and for example, a home a mile out of Pigeon Forge priced 100k taxes are 7 to 9 hundred, a home in or near Maryville priced the same is around 4 to 6 hundred, and a home near, and Dandridge area about the same, but then in the same county a home priced the same near Newport is a lot less. I guess to us it makes no sence that the community closest to the GSM national park would be more costly as the park would bring in so much cash from vacationers and such. any insight would be great. And thank you so much for the table of property taxes.

The tax rates are per $100 of assessed value. The assessed value is 25% of the actual value. So if you pay $100,000 for a home, the assessed value is $25,000. If the tax rate is, say, $1.6642 (Pigeon Forge), that's $1.6642 x $250 ($25,000 divided by $100), for a total property tax of $416.05.

In rural Blount County (outside of Maryville's city limits) the tax rate is $2.2300. Therefore, a $100,000 home in rural Blount County would have annual property taxes of $557.50. If that home is inside Maryville's city limits, you pay an additional property tax rate of $2.0500.

I'm not sure what you mean that homes near Newport have lower property taxes than Pigeon Forge. They don't. Cocke County's property tax rate is $2.4800, and the city of Newport adds an additional $2.0400 meaning if you live in the city of Newport your property tax rate is $4.5200

[farmerandpoet]

JMT.. thank you so much for the valuable information, we will definately be using those figures as we house shop. again, thank you.