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Article by the Tennessee Conservative News staff –
Recent census data showed that home values in Knoxville exceeded property tax growth at a higher rate than nearly all of the 100 largest cities in America.
Data analysis by Consumer Affairs showed that the median property tax in Knoxville in 2022 was $1,214 but had increased to $1300 by 2024, ending with a 7.1% increase. In the same time frame, home values increased 24.7%, rising from $281,900 to $351,400.
With home value growing 17.6% more than property tax rates, Knoxville had the fourth highest rate in the country. Consumer Affairs reported that only McAllen-Edinburg-Mission, Texas; El Paso, Texas; and Syracuse, New York came in higher.
This comparison focused solely on growth rates. Knoxville residents actually paid the lowest property taxes of all of the cities included in the study, coming in at only $1300.
Despite paying the lowest amount in taxes, Knoxville home values did not come in as the lowest. In fact, Knoxville ranked 55th out of the 100 largest cities, with a median home value of $351,400.
Property taxes are determined based on local tax rates and assessed home values. If either of those increases, owners will see an increase in the amount owed.
Knoxville residents may see a drop in their amounts owed because the Knoxville City Council voted to lower property taxes within city limits in 2026.
Tennessee does not currently have a state property tax in addition to local taxes. Voters have an opportunity to vote on a possible Constitutional amendment that would prohibit the state from ever instituting a statewide property tax in the future.
Sources:
WATE.
