Why is TN property tax so high? (Kingsport, Cookeville: 2015, health insurance)

[tnmtnhome]

Originally Posted by mbmouse

I am not quite sure on your math, but I will give you a true example of property taxes here in the Tri-Cities. 3 different counties.
This is tax on home in Sullivan County, Kingsport city limits so both city and county taxes.
Appraised resale value, $309k, 3000sq ft home, 1.10 acres, the tax appraised value (2005) is $175k, assessed amount is $70,000 the total tax bill for 2005 was $1,771.00 (combined, city and county)
This is on a home in Washington County, about 15 minutes from Down town Kingsport. County tax only, no city tax.
Appraised resale value $135k,1520 sq ft home, .45 acre. The tax appraised value is $89,500 (tax valued and based on 2004) So assessed amount is $22,375 the annual tax bill is $418.00

Another example in Greene County, 15 miles from down town. County tax only, but not "rural"
Appraised resale value $88,000. 1486 sq ft home, .60 acres. Tax assessed value (year 2003) $50,800, assessment amount is $12,700 annual tax bill is $248.00 (2005 bill)

I guess maybe coming from Fl, where in 97, my last year there, I paid $1,100.00 on a $70,000 Shoe box, less than 1000 sq ft house, with a postage size lot......yea, TN property taxes are CHEAP! hahahaha

Hello! I want to thank all of you for being so kind and all of the useful information on this forum!

I was reading this thread with interest. I was wondering if mbmouse could add to the examples given above?

Take the Sullivan co example...Would it be cheaper tax-wise for two 1500 sq ft homes on that 1.10ac lot, as opposed to the larger 3000 sq ft one, or would it be more expensive, or about the same?

Thank you in advance!

[mrradio]

in a given area, that is, all local and state taxes. Living in Tennessee is a bargain.

Yes, TN has an all-inclusive sales tax but you're better off with paying 1-2% more on say, $30,000 ($300-600 tax a year) worth of taxable goods and services than you are with an income tax which Tennessee essentially doesn't have.

Property taxes? I have a 3500 sq ft home on several acres. My property taxes are and have been right around $1100 a year, maybe going up $50-75 every year or two. My house in NY, when I sold it in 2000 had annual taxes of $12,000 (not a misprint-twelve thousand!) and it was no mansion. The guy down the street was paying $16,000. Property taxes were going up 8-11% a year, eating you alive.

It doesn't matter whether they take the tax out of your left pocket (sales) or your right pocket (income and/or property tax), it's the total tax load that you must consider. Again, I love Tennessee!

[mbmouse]

Originally Posted by tnmtnhome

Hello! I want to thank all of you for being so kind and all of the useful information on this forum!

I was reading this thread with interest. I was wondering if mbmouse could add to the examples given above?

Take the Sullivan co example...Would it be cheaper tax-wise for two 1500 sq ft homes on that 1.10ac lot, as opposed to the larger 3000 sq ft one, or would it be more expensive, or about the same?

Thank you in advance!

I am happy to answer. It will be cheaper to have the 1500 sq ft house than the 3000 sq foot. That is unless you have a lot of "outbuildings" on that land. The tax rate on land is MUCH less than on the house of course, but you are taxed on the sq footage of any building on your property. Check out this web site, it explains things very clearly about tax rates in every county, town and city in TN. :http://www.comptroller.state.tn.us/pa/paavt.htm (broken link) be sure to check out the left hand side of this page which has inks to detailed explanations and links to the different county tax assessment info.
All in all, it depends where you are coming from as to weather you feel property taxes in TN are cheap or not. If you are coming from New England, FL, CA......you are going to laugh out loud and do a *** when you get your tax bill here.
Hope that helps !

[forgivenbythecross]

Hi there....

We live in Michigan.....yes, one of the WORST economy's. Our house is assessed at $150,600. It is 2400 sq ft. on 1.5 acres. We pay $3,785 in taxes every year, plus 6% sales tax and state income tax.

We are planning on moving south soon. We are in the construction business and there is not any work here. I'm hoping things in the south will be better

[tnmtnhome]

Originally Posted by mbmouse

I am happy to answer. It will be cheaper to have the 1500 sq ft house than the 3000 sq foot. That is unless you have a lot of "outbuildings" on that land. The tax rate on land is MUCH less than on the house of course, but you are taxed on the sq footage of any building on your property. Check out this web site, it explains things very clearly about tax rates in every county, town and city in TN. :http://www.comptroller.state.tn.us/pa/paavt.htm (broken link) be sure to check out the left hand side of this page which has inks to detailed explanations and links to the different county tax assessment info.
All in all, it depends where you are coming from as to weather you feel property taxes in TN are cheap or not. If you are coming from New England, FL, CA......you are going to laugh out loud and do a *** when you get your tax bill here.
Hope that helps !

That is a helpful site, thanks!
The question I was asking was what would be the tax difference between TWO 1500 sq ft homes on the parcel and one 3000 sq ft home? Since both are the same sq footage of improvements. From the comptroller website, it appears that it might be cheaper tax-wise to build just the one larger home. If they just appraised by acreage and sq footage of improvements, it would be equal, but I'm not sure they would do that.

[tnmtnhome]

On the comptroller site under the 2006 property tax rates, would I assume that since Greeneville is the only subheading under Greene county for example, that any city in Greene county besides Greeneville would fall under just the Greene county heading?

And of course the same for Washington or Sullivan, if a city in either respective county is not listed under their headings, that city doesn't add an extra assessment?

[mbmouse]

Originally Posted by tnmtnhome

On the comptroller site under the 2006 property tax rates, would I assume that since Greeneville is the only subheading under Greene county for example, that any city in Greene county besides Greeneville would fall under just the Greene county heading?

And of course the same for Washington or Sullivan, if a city in either respective county is not listed under their headings, that city doesn't add an extra assessment?

You are correct, there is no other city in Greene County that assesses a city tax on top of the county tax except Greeneville.
As for Washington and Sullivan County, unless an area has been annexed and is now considered within city limits, it is the same, county taxes only unless you are in the city limits.
As for the two houses vs. one, I think the tax rate would be the same, but you might want to call the tax assessors office in the town you want to build to be sure.

[dgibsonrn]

We live in southwest Florida. Our taxes have grown to the point that we pay almost as much each month in taxes and insurance as our mortgage- our mortgage is $827, our monthly payment is $1450- the difference is taxes and insurance. Our homeowners was $712 two years ago, now its $3134. We have never had a claim. We have bought property in TN, and it is out in the "boonies", our taxes will be in the hundreds, not the thousands. We make decent money, our children are grown, we have no debt beyond the mortgage on our house and the land in TN, vehicles paid for, no credit cards, and we live pretty much pay check to paycheck. We save, but its limited, electric is astronomical- two people- $275 a month. A single person cannot live here, our adult children barely survive. We're heading to the hills, and no matter what anyone says, it's cheaper.

It's beautiful here, spent today on Ana Maria Island, beautiful beach, glorious- but not worth the cost. Can't wait to leave.

[knoxgarden]

Also figure in things like insurance (both car and home owner), cost of electricity (lots of cheap hydroelectric power in Tennessee); car registration.
When I lived in Georgia and Maryland I had to pay several hundred every year to register my car. Costs $65 a year in Knox County, no matter what you drive.

[DanBev]

Originally Posted by J.R.

Tony, don't even think about moving to Florida. You would choke.

Property tax on $350,000 home would run you about $700 per month.

I am in north Florida,like today's newspapers say anything to do with insurance and taxes is just smoke and mirrors,if they give one way,they will assess you another.Never enough.Disgusting.