37861 Property Tax Rate

Property owners in ZIP code 37861 (Rutledge, Tennessee) pay a median of $899/year in property taxes on homes valued at $202,200. This translates to an effective tax rate of 0.44%, which is 19% below the Tennessee state average of 0.55%.

The monthly property tax burden for a median-valued home in 37861 is approximately $75, which factors into escrow payments on mortgages. This ZIP code is located within Grainger County. This is $307 less than the Tennessee average of $1,206/year.

Compared to similar ZIP codes in Tennessee, 37861 has lower property taxes. ZIP codes with similar effective rates include 37308 (0.44%) and 37891 (0.44%).

In Rutledge, property taxes represent approximately 1.7% of the median household income of $53,797, providing context for the relative tax burden on homeowners in this area.

Tennessee assesses property at 25% of market value with no statewide cap on annual increases, resulting in reassessment at sale and potential annual growth in your Grainger County tax bill. Grainger County homeowners aged 65+ and disabled owners may claim a Homestead Exemption that reduces the taxable portion of assessed value — contact the Grainger County Assessor to apply with proof of age or disability status. File your exemption application at the Grainger County Assessor's office within 30 days of closing to ensure the exemption applies to your first tax bill.