Powell, Knox County, Tennessee Property Taxes
Median Powell, TN effective property tax rate: 0.39%, significantly lower than the national median of 1.02%, but also lower than the Tennessee state median of 0.64%.
Median Powell, TN home value: $220,450
Median annual Powell, TN tax bill: $859, $1,541 lower than the national median property tax bill of $2,400.
How are property taxes in Knox calculated?
Property taxes in Powell, 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 Powell’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Powell, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Powell, Knox County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.39%
Estimate Property Tax Bill
$860
$798
Property Tax Rates Across Powell, Knox County, Tennessee
Local government entities set tax rates, which can vary widely within a state. This variability is due to each county estimating its required budget to provide essential services and dividing that by the total value of all taxable property within its jurisdiction. The outcome of this calculation is the property tax rate. While votes and laws play a role in setting tax rates and budgets, this process essentially sums up the annual procedure.
Powell, located in Knox County, Tennessee, presents an interesting case for property tax analysis. Despite Tennessee's median property tax rate being notably lower than the national median, Powell's effective property tax rate offers a unique comparison point within the state. This makes it essential for property owners in Powell to understand how their tax rate measures up against other cities in Tennessee and the national median. Knowledge of these comparisons can empower property owners to make informed decisions regarding property tax appeals and exemptions. Understanding the nuances of Powell's property tax rate can provide significant financial benefits, ensuring property owners are not overpaying and are taking advantage of potential savings.
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 Powell Tax Rate
0.39%
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 Knox County Tax Rate
0.39%
Median Effective Tennessee Tax Rate
0.64%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Powell, Knox County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37849 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Powell, Knox County, Tennessee
When examining property taxes in Powell, 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 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 Knox 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 Powell.
For example, the median home price in Powell is $220,450, with tax bills ranging significantly across the county. Zip code 37849 has the highest median home price at $220,450.
Property Tax Assessment Values Across Powell, Knox County, Tennessee
Source: Ownwell
$93,700
$283,700
$473,700
Median Powell Market Value
$220,450
Median Knox County Market Value
$222,300
Median Tennessee Market Value
$173,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Powell, Knox County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37849 | $119,340 | $169,500 | $220,450 | $272,175 | $359,350 |
Source: Ownwell
Property Tax Bills Across Powell, Knox County, Tennessee
In Powell, located in Knox County, Tennessee, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate is applied to this assessed value to determine the annual property tax bill. Homeowners in Powell experience a range of tax bills, with the 25th percentile at $659 and the 75th percentile at $1,064. The 90th percentile reaches $1,404, reflecting variations in home values. Compared to the national median property tax bill of $2,400, Powell's tax bills are relatively lower, providing some relief to homeowners in the area.
However, these tax bills can still pose a financial burden. Ownwell offers property tax appeal and exemption services to help homeowners reduce their tax burden. By analyzing property assessments and identifying discrepancies, Ownwell can assist in appealing for a lower assessed value, potentially leading to significant savings. This service ensures homeowners pay only their fair share, providing peace of mind and financial relief in managing property expenses.
Median Powell Tax Bill
$859
Median Knox County Tax Bill
$1,143
Median Tennessee Tax Bill
$1,206
Median United States Tax Bill
$2,400
Property Tax Bills Across Powell, Knox County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 37849 | $448 | $659 | $859 | $1,064 | $1,404 |
Source: Ownwell