Lake County, Tennessee, has an average property tax rate of 0.72%, meaning the typical Lake County homeowner pays $468.00 in property tax annually. Tennessee’s median property tax rate is one of the lowest in the country.
Paying property tax is part and parcel of being a homeowner, but that doesn’t mean it’s always straightforward. If you’re new to paying property tax in Lake County, you may be wondering how it’s calculated or even how to pay your bill.
If you like having a bit of context for the bills you pay, here’s what you need to know about property tax:
Property taxes are paid by those who have invested in a community by buying a home.
What is the property tax rate in Lake County?
The average property tax rate in Lake County, Tennessee, is 0.72%, which is just slightly higher than the state average of 0.68%. The average Lake County homeowner pays $468.00 in property tax.
How Lake County property taxes are determined
Every four, five, or six years, all properties in the county go through revaluation. In the years leading up to revaluation, assessors visually inspect each property in the county to check for any changes or improvements that could impact its value.
The revaluation is based on the market value as of January 1 of the revaluation year. A Change Notice is then sent out with the property’s new assessed value.
What do Lake County property taxes pay for?
Property tax collected by your local government is invested in public services that may include:
How to pay property taxes in Lake County
Property tax bills are sent out in September and October. They are due from the first Monday in October to the last day of February. Taxes become delinquent if unpaid by March 1. There are a few different ways to pay your property taxes in Lake County, but online is preferred.
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