Understanding property taxes is a crucial part of owning your own home, yet many buyers and homeowners find the process confusing. Ellis Gardner, 2025 President of the Greater Chattanooga Realtors, has broken down a few of the basic information to help you get started. 

Property Taxes fund essential community services like schools, emergency response, and infrastructure which makes them an unavoidable expense for homeowners. The National Association of Realtors’ Consumer Guide on Property Taxes provides valuable insights into how taxes are assessed, availability of exemptions, and how to challenge an inaccurate assessment. Whether you’re purchasing a home, reviewing your current tax bill, or considering an appeal, this guide helps clarify tax obligations and accessible relief programs. Knowing how they are calculated—based on the local tax rate and your property’s assessed value—can also help you better plan for annual expenses and potential tax savings.

For homeowners looking to reduce property tax burdens, exemptions may be available for senior citizens, veterans, and homeowners with disabilities. Additionally, if you believe your home’s assessed value is too high, you may be able to appeal for a reevaluation to lower your tax bill. Usually, it is settled through escrow accounts included in mortgage payments to ensure they are paid on time. It is also essential to be cognizant of the difference between property taxes and transfer taxes—a one-time fee when buying or selling a home—as this plays a role in budgeting for a real estate transaction. Navigating tax laws can be complex, but working with a realtor and a tax professional can help ensure you take advantage of every exemption and resource available.