Morristown, Washington County, Tennessee Property Taxes

Local government entities in Tennessee set tax rates, resulting in significant variation throughout the state. Each year, counties estimate their budgetary needs for essential services and divide this by the total value of taxable property within their jurisdiction, leading to the establishment of the property tax rate. Although votes and legislation play roles in determining tax rates and budgets, this is the fundamental process.

In Morristown, located in Hamblen County, the effective property tax rate is 0.54%, notably lower than the national median of 1.02%. This means that homeowners in Morristown benefit from property tax bills that are generally below the national median of $2,400. Compared to other cities in Tennessee, Morristown's rate reflects the state's tendency towards lower property tax rates, as evidenced by the state median rate of 0.54%.

For homeowners in Morristown, this lower tax rate can translate to significant savings annually, enhancing the appeal of property ownership in the area. With property taxes being a crucial factor in home affordability, Morristown presents an attractive option for those looking to maximize their investment while minimizing tax expenses.

In Morristown, Tennessee, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the home's location, size, and any improvements made. With the median home price in Morristown at $84,800, homeowners find their tax bills aligning with the 25th, 75th, and 90th percentiles at $456, significantly lower than the national median property tax bill of $2,400. This relatively low tax burden can be a relief for homeowners, but it also highlights the importance of ensuring that assessments are accurate and fair.

Ownwell assists homeowners by offering property tax appeal services, potentially lowering their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure homeowners are not overpaying. This service can lead to substantial savings, providing peace of mind and financial relief. With Ownwell's expertise, homeowners in Morristown can confidently manage their property tax obligations.