Q: When are Monroe County property taxes due?
A: Property taxes are due by November 1 each year and become delinquent after April 1 of the following year. For the current fiscal year, this schedule applies to taxes assessed for FY 2024-2025.
Q: What tax credits are available and do I need to apply?
A: Tennessee offers various tax relief programs including Property Tax Relief for eligible homeowners based on income and age requirements. Most credits require separate application and are NOT automatic. Contact the Monroe County Property Assessor or Tennessee Department of Revenue for available programs and application procedures.
Q: How does the Homestead Credit work?
A: Tennessee's homestead-type credits typically limit annual assessment increases rather than reducing your home's market value. These programs require filing an application and meeting specific eligibility criteria. The credit caps how much your assessed value can increase each year, providing tax stability for qualifying homeowners.
Q: How often are properties reassessed?
A: Tennessee law requires property reappraisal at least every six years. Monroe County may conduct more frequent updates or individual property reviews. You have the right to appeal your assessment if you believe it's incorrect.
Q: What are the penalties for late payment?
A: Property taxes that remain unpaid after April 1 are considered delinquent and subject to penalties, interest, and potential tax sale proceedings. Contact the Monroe County Trustee for specific penalty rates and collection procedures.
Q: Can I pay my property taxes online?
A: Check with the Monroe County Trustee's office for available online payment options and accepted payment methods. Many Tennessee counties offer online payment systems for taxpayer convenience.
Q: Do special districts affect my tax rate?
A: Yes, your location within Monroe County may be subject to additional taxes from special districts, municipalities, or other local taxing authorities. Your actual tax rate may differ from the base county rate depending on these factors.
Q: When is the assessment date for property taxes?
A: January 1 is the official assessment date in Tennessee. All ownership records, assessments, and tax maps must reflect property status as of January 1 of each tax year.
