Tracy City, Grundy County, Tennessee Property Taxes

Name: Property Tax Bills Across Tracy City, Grundy County, Tennessee
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Tracy City, TN effective property tax rate: 0.61%, significantly lower than the national median of 1.02%, but lower than the Tennessee state median of 0.64%.
Median Tracy City, TN home value: $79,700
Median annual Tracy City, TN tax bill: $528, $1,872 lower than the national median property tax bill of $2,400.

How are property taxes in Grundy County calculated?

Property taxes in Tracy City, TN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Tracy City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Tracy City, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Tracy City, Grundy County, Tennessee Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.61%

Estimate Property Tax Bill

$486

$451

Ownwell’s Tracy City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Tracy City with just two data points. By entering your property's estimated assessed value, our calculator applies Tracy City’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Grundy County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Tracy City, Grundy County, Tennessee

Local government entities in Tennessee determine tax rates, which can vary significantly across the state. Each year, counties like Grundy estimate their necessary budgets for public services and divide that by the total value of all taxable properties within their jurisdiction. This process results in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the general annual procedure. In Tracy City, located in Grundy County, the effective property tax rate is 0.61%, which is consistent throughout the county. This rate is notably lower than the national median property tax rate of 1.02%. Consequently, property owners in Tracy City benefit from a lower tax burden compared to many other regions across the United States. This lower rate can be particularly advantageous for homeowners seeking to minimize expenses while maintaining access to essential public services.

Property Tax Rates Across Tracy City, Grundy County, Tennessee

Source: Ownwell

0.54%

0.57%

0.61%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Tracy City Tax Rate

0.61%

Median Effective Grundy County Tax Rate

0.60%

Median Effective Tennessee Tax Rate

0.64%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Tracy City, Grundy County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
37387	0.53%	0.59%	0.61%	0.75%	0.76%

Source: Ownwell

Property Tax Assessment Values Across Tracy City, Grundy County, Tennessee

When examining property taxes in Tracy City, TN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Grundy County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Grundy County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Tracy City. For example, the median home price in Tracy City is $79,700, with tax bills ranging significantly across the county. 37387 has the highest median home price at $79,700.

Property Tax Assessment Values Across Tracy City, Grundy County, Tennessee

Source: Ownwell

$47,600

$93,075

$138,550

Median Tracy City Market Value

$79,700

Median Grundy County Market Value

$82,800

Median Tennessee Market Value

$173,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Tracy City, Grundy County, Tennessee

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
37387	$24,000	$50,600	$79,700	$129,600	$186,360

Source: Ownwell

Property Tax Bills Across Tracy City, Grundy County, Tennessee

In Tracy City, located in Grundy County, TN, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. Homeowners in this region typically see a median property tax bill of around $528. This is significantly lower than the national median property tax bill of $2,400, providing a financial advantage to local homeowners. The tax bill can vary, with the 25th percentile at $312 and the 90th percentile reaching $1,283, depending on the property's assessed value and applicable tax rates. These bills impact homeowners by influencing monthly mortgage payments and overall homeownership costs.

Ownwell offers a valuable service to homeowners in Tracy City by assisting with property tax appeals and exemptions. By leveraging our expertise, homeowners can potentially lower their tax bills, ensuring they are not overpaying. Our tailored services help identify discrepancies in property assessments and secure eligible exemptions, ultimately leading to significant savings. Let us help you navigate the complexities of property taxes and reduce your financial burden.

Property Tax Bills Across Tracy City, Grundy County, Tennessee

Source: Ownwell

$278

$553

$827

Median Tracy City Tax Bill

$528

Median Grundy County Tax Bill

$512

Median Tennessee Tax Bill

$1,206

Median United States Tax Bill

$2,400

Property Tax Bills Across Tracy City, Grundy County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
37387	$140	$312	$528	$852	$1,283

Source: Ownwell