Lenoir City, Knox County, Tennessee Property Taxes

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

Median Lenoir City, TN effective property tax rate: 0.39%, significantly lower than the national median of 1.02%, but lower than the Tennessee state median of 0.64%.
Median Lenoir City, TN home value: $316,600
Median annual Lenoir City, TN tax bill: $1,232, $1,168 lower than the national median property tax bill of $2,400.

How are property taxes in Knox calculated?

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

Last Updated March 1, 2025

Lenoir City, Knox County, Tennessee Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.39%

Estimate Property Tax Bill

$1,235

$1,146

Ownwell’s Lenoir City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lenoir City with just two data points. By entering your property's estimated assessed value, our calculator applies Lenoir 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 Knox County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Lenoir City, Knox County, Tennessee

Local government entities are responsible for setting property tax rates, which can differ significantly across a state. This variation is due to each county's annual assessment of its budgetary needs to provide essential services. The county then divides this budget by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While the process involves votes and legislative measures, this is essentially how it unfolds each year.

In Lenoir City, located in Knox County, Tennessee, the effective property tax rate is noticeably lower than both the state and national medians. Tennessee's median property tax rate is 0.39%, significantly below the national median of 1.02%. This means that residents in Lenoir City benefit from lower property taxes compared to many other parts of the country. Consequently, property owners in Lenoir City enjoy a more favorable tax environment, which can lead to substantial savings over time. The lower tax burden can make Lenoir City an attractive option for property buyers seeking affordability and value.

Property Tax Rates Across Lenoir City, Knox County, Tennessee

Source: Ownwell

0.39%

0.70%

1.01%

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 Lenoir City Tax Rate

0.39%

Median Effective Knox County Tax Rate

0.39%

Median Effective Tennessee Tax Rate

0.54%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Lenoir City, Knox County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
37772	0.39%	0.39%	0.39%	0.39%	0.39%

Source: Ownwell

Property Tax Assessment Values Across Lenoir City, Knox County, Tennessee

When examining property taxes in Lenoir 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 Knox County appraisal district 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 Knox 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 Lenoir City. For example, the median home price in Lenoir City is $316,600, with tax bills ranging significantly across the county. ZIP code 37772 has the highest median home price at $316,600.

Property Tax Assessment Values Across Lenoir City, Knox County, Tennessee

Source: Ownwell

$95,000

$284,900

$474,800

Median Lenoir City Market Value

$316,600

Median Knox County Market Value

$224,100

Median Tennessee Market Value

$213,900

Median United States Market Value

$235,294

Property Tax Assessment Values Across Lenoir City, Knox County, Tennessee

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
37772	$302,500	$308,050	$316,600	$330,950	$346,100

Source: Ownwell

Property Tax Bills Across Lenoir City, Knox County, Tennessee

In Lenoir City, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing this calculation include the property's location, size, and any applicable exemptions. With a median home price of $316,600, homeowners in Lenoir City face property tax bills ranging from $1,200 to $1,347, depending on their property's assessed value. This is significantly below the national median property tax bill of $2,400, offering some relief to residents. However, understanding the nuances of property assessments can be challenging. Ownwell assists homeowners by reviewing their property assessments for inaccuracies, identifying potential exemptions, and filing appeals on their behalf. By leveraging expertise in local tax regulations, Ownwell helps homeowners potentially lower their tax bills, ensuring they only pay their fair share and relieving the financial burden of property ownership.

Property Tax Bills Across Lenoir City, Knox County, Tennessee

Source: Ownwell

$548

$2,063

$3,578

Median Lenoir City Tax Bill

$1,230

Median Knox County Tax Bill

$1,134

Median Tennessee Tax Bill

$1,126

Median United States Tax Bill

$2,400

Property Tax Bills Across Lenoir City, Knox County, Tennessee

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
37772	$1,175	$1,197	$1,230	$1,295	$1,458

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	May 31

Links
Knox Tax Assessor
Website	propertyinfo.knoxcountytn.gov