37370 Property Tax Rate

Property owners in ZIP code 37370 (Riceville, Tennessee) pay a median of $601/year in property taxes on homes valued at $208,000. This translates to an effective tax rate of 0.29%, which is 47% below the Tennessee state average of 0.55%.

The monthly property tax burden for a median-valued home in 37370 is approximately $50, which factors into escrow payments on mortgages. This ZIP code is located within McMinn County. This is $605 less than the Tennessee average of $1,206/year.

Compared to similar ZIP codes in Tennessee, 37370 has lower property taxes. ZIP codes with similar effective rates include 38076 (0.29%) and 37878 (0.29%).

In Riceville, property taxes represent approximately 1.2% of the median household income of $49,694, providing context for the relative tax burden on homeowners in this area.

Tennessee does not cap annual assessment increases; your McMinn County property can be revalued upward without limitation. McMinn County offers a Homestead Exemption for seniors 65+ and disabled owners—file at the McMinn County Assessor's office to exempt a portion of your home's value from taxation. After purchase, request your official assessment from the McMinn County Assessor and note the 30-day appeal window to challenge any errors or overvaluation.