$0.497 cents/one-hundred dollars of assessed value – Property tax is a tax on certain kinds of wealth: real and personal property. The tax rate is applied to an assessment of the value of the taxable property. The assessed value ideally reflects a percentage of the actual value of the property involved. City property taxes are billed out for payment on October 1st and can be paid anytime thereafter, but no later than February 28th of the next calendar year. Any adjustments to assessments must be made by the County tax assessor, whose office is located at the Sevier County Court House, 125 Court Avenue, Sevierville, TN 37862 (865) 453-3242.