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Updated 2025 Tax Year

Lake County
Property Tax Guide

Everything you need to know about property taxes in Lake County, TN. Rates, due dates, exemptions, and how it affects your monthly payment.

10 Official Sources
8 min read
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Quick Facts
Tax Rate
Varies by district - typically $1.50-$3.50 per $100 assessed value depending on municipal boundaries and special districts
1st Due
Oct 1
2nd Due
Feb 28
Exemptions
4+ Available
Section 1

How Property Tax Works

Lake County, Tennessee operates under a property tax system that funds essential county services including schools, emergency services, infrastructure maintenance, and local government operations. Property taxes are calculated based on assessed value, which is determined by the county assessor and reassessed periodically. The county follows Tennessee state guidelines for property assessment and taxation.

Property tax rates in Lake County vary by location within the county due to special taxing districts, municipal boundaries, and additional levies for services like schools and infrastructure improvements. Property owners should verify their specific tax rate based on their exact location, as rates can differ significantly between areas within the county. The property tax system provides the primary funding mechanism for local services and represents a significant portion of most property owners' annual housing costs.

Section 2

What Makes Up Your Tax Bill

ComponentRate (per $100 assessed value)Description
Lake County Base Rate$1.00*Basic county services and operations
School DistrictVaries by districtPublic education funding
Municipal RateVaries by cityCity services (if applicable)
Special DistrictsVariesFire districts, utility districts, other special services

*Note: The research data shows conflicting rate information. Property owners should verify current rates with the Lake County Assessor's Office for FY 2025-2026. Rates vary significantly based on your specific location within Lake County and which special taxing districts apply to your property. Contact the assessor's office at the county courthouse for your exact rate calculation.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Lake County, property taxes are due in two installments:

First Installment
Oct 1
Delinquent after Dec 10
Second Installment
Feb 28
Delinquent after Apr 10
Pro tip: If you pay through mortgage escrow, your lender splits these payments across your monthly mortgage. If you pay directly, set calendar reminders to avoid late penalties.
Section 4

Supplemental Tax Bills

Supplemental taxes in Lake County are additional property tax bills issued when there are changes to property ownership, new construction, or improvements that increase assessed value during the tax year. These taxes are calculated on a pro-rated basis from the date of the change through the end of the fiscal year.

Common triggers for supplemental taxes include: purchasing a home, completing new construction, adding significant improvements like additions or pools, or removing exemptions that previously reduced assessed value. For example, if you purchase a home in January that was previously owner-occupied and qualified for homestead exemptions, you may receive a supplemental tax bill for the difference between the previous owner's tax liability and the full assessed value without exemptions.

Example Calculation

Example 1: $300,000 Home

  • Market Value: $300,000
  • Assessed Value (25% of market): $75,000
  • Less: Homestead Credit (if qualified): Varies
  • Net Taxable Value: ~$75,000
  • Annual Tax (est. 1.5% effective rate): $1,125
  • Monthly Escrow: ~$94

Example 2: $600,000 Home

  • Market Value: $600,000
  • Assessed Value (25% of market): $150,000
  • Less: Applicable credits (requires application): Varies
  • Net Taxable Value: ~$150,000
  • Annual Tax (est. 1.5% effective rate): $2,250
  • Monthly Escrow: ~$188

Example 3: $1,000,000 Home

  • Market Value: $1,000,000
  • Assessed Value (25% of market): $250,000
  • Less: Applicable credits (requires application): Varies
  • Net Taxable Value: ~$250,000
  • Annual Tax (est. 1.5% effective rate): $3,750
  • Monthly Escrow: ~$313

Note: These are estimates. Actual rates vary by location and special districts. Most tax credits require annual application and are not automatically applied.

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Section 5

Escrow & Property Taxes

Most mortgage lenders require property tax escrow accounts for Lake County properties. Your lender collects monthly property tax payments as part of your mortgage payment and holds these funds in an escrow account. The lender pays your property taxes directly to Lake County when they become due in September.

Lenders typically collect 1/12 of your annual property tax bill each month, plus an additional cushion as allowed by federal regulations. You'll receive an annual escrow analysis statement showing how your tax payments were applied and any adjustments needed for the coming year. If your property taxes increase due to reassessment or rate changes, your monthly escrow payment will be adjusted accordingly. Property owners remain responsible for ensuring taxes are paid on time, even when using escrow services, and should verify that payments are made correctly.

How HonestCasa Helps
  • Understand whether your escrow is set correctly
  • See how rising taxes will change your monthly payment
  • Plan ahead instead of being surprised by "shortage" letters
Section 6

Frequently Asked Questions

Q: When are Lake County property taxes due? A: Property taxes are due by September 15 each year for the current tax year. Late payments are subject to penalties and interest charges.

Q: What tax credits are available and how do I apply? A: Tennessee offers various tax relief programs that require application, including elderly/disabled tax relief and tax freeze programs. Applications must be submitted 35 days before the tax due date. Contact the Lake County Assessor's Office for specific programs and application forms.

Q: How does the homestead exemption work? A: Tennessee's homestead programs typically limit annual assessment increases rather than reducing market value. These programs require annual application and have income and age requirements. Contact the county assessor for current program details and application deadlines.

Q: How often are properties reassessed? A: Tennessee law requires property reappraisal programs, but the specific schedule varies by county. Contact the Lake County Assessor's Office for the current reappraisal schedule and assessment methodology.

Q: Can I appeal my property assessment? A: Yes, property owners can appeal assessments through the county board of equalization. Appeals must be filed within specific timeframes after assessment notices are mailed. Contact the assessor's office for appeal procedures and deadlines.

Q: What are the penalties for late payment? A: Late payments are subject to penalties and interest as specified in Tennessee law. Contact the Lake County Trustee's Office for current penalty rates and payment options.

Q: Can I pay my property taxes online? A: Contact the Lake County Trustee's Office to inquire about online payment options and accepted payment methods for property taxes.

Q: How do special district taxes affect my bill? A: Special districts for fire protection, utilities, or other services add additional taxes to your bill. Your specific rate depends on which districts serve your property location. The assessor's office can provide a breakdown of all applicable rates for your address.

Verified Sources

Backed by 10 Official Government Sources

Every fact in this guide is sourced from official county, state, and federal documents.

01
Tax Doc
Property Tax Information | Lakeland, TN - Official Websitelakelandtn.gov
02
Tax Doc
NEW CERTIFIED TAX RATE ANNOUNCEMENTlakesitetn.gov
03
Budget & Financelakesitetn.gov
04
Date Assessment Administration Function Authoritylakecountytn.gov
05
County
Assessor of Property - Lake County, TN Governmentlakecountytn.gov
06
Tax Doc
Property Taxtn.gov
07
Exemptions - Tennessee Comptroller of the Treasurycomptroller.tn.gov
08
Tax Doc
PROPERTY TAX EXEMPTION MANUALcomptroller.tn.gov
09
HUD Home | HUD.gov / U.S. Department of Housing and ...hud.gov
10
County
Lake County, Tennessee - Comptroller of the Treasurycomptroller.tn.gov
All sources verified as of 2025 Tax Year

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