Sneedville, Hancock County, Tennessee Property Taxes
Median Sneedville, TN effective property tax rate: 0.55%, significantly lower than the national median of 1.02%, and lower than the Tennessee state median of 0.64%.
Median Sneedville, TN home value: $96,400
Median annual Sneedville, TN tax bill: $526, $1,874 lower than the national median property tax bill of $2,400.
How are property taxes in Hancock calculated?
Property taxes in Sneedville, 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 Sneedville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Sneedville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Sneedville, Hancock County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.55%
Estimate Property Tax Bill
$530
$492
Property Tax Rates Across Sneedville, Hancock County, Tennessee
Local government entities are responsible for setting property tax rates, which can differ significantly within a state. This variation occurs because each county annually estimates the budget necessary to provide essential services and divides it by the total value of all taxable property in the area. This calculation determines the property tax rate. Although voting and legislation play roles in setting these rates and budgets, this is the core process followed each year.
In Sneedville, located in Hancock County, the effective property tax rate offers a unique perspective when compared to other cities in Tennessee and the broader national landscape. The median property tax rate in Tennessee is notably lower than the national median of 1.02%. This makes Tennessee an attractive option for property owners seeking relief from higher property tax burdens found elsewhere in the country. When considering the financial implications of property ownership, understanding these differences can be crucial. By examining Sneedville's tax rate in relation to state and national figures, property owners can make informed decisions and potentially benefit from lower property tax obligations.
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 Sneedville Tax Rate
0.55%
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 Hancock County Tax Rate
0.55%
Median Effective Tennessee Tax Rate
0.64%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Sneedville, Hancock County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37869 | 0.55% | 0.55% | 0.55% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Sneedville, Hancock County, Tennessee
When examining property taxes in Sneedville, Tennessee, 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 Hancock County Assessor's Office 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 Hancock County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Sneedville. For example, the median home price in Sneedville is $96,400, with tax bills ranging significantly across the county. The zip code 37869 has the highest median home price at $96,400.
Property Tax Assessment Values Across Sneedville, Hancock County, Tennessee
Source: Ownwell
$88,650
$99,575
$110,500
Median Sneedville Market Value
$96,400
Median Hancock County Market Value
$96,450
Median Tennessee Market Value
$173,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Sneedville, Hancock County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37869 | $26,000 | $58,500 | $96,400 | $142,000 | $199,300 |
Source: Ownwell
Property Tax Bills Across Sneedville, Hancock County, Tennessee
Median Sneedville Tax Bill
$526
Median Hancock County Tax Bill
$528
Median Tennessee Tax Bill
$1,206
Median United States Tax Bill
$2,400
Property Tax Bills Across Sneedville, Hancock County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37869 | $143 | $317 | $526 | $783 | $1,102 |
Source: Ownwell