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How to Calculate Tennessee Property Taxes


Obtain the appraised value for your property. Contact your county assessor who calculates the assessed value of all real property in each taxing district. To find your local assessor, visit the website for the Tennessee Comptroller of the Treasury Division of Property Assessment. Click on the "Assessment Information for Each County" option and then click on the "Assessors and trustees" option. You will come to a listing of Tennessee assessors and trustees who can help you.


Find out what the assessment ratio in Tennessee is for your property. The assessment ratio is the ratio of the assessed value of your property versus the market value. The values are listed as a percentage and are as follows: 25 percent for residential and farm properties, 30 percent for business personal property, 40 percent for commercial and industrial properties, and 55 percent for public utility properties.


Calculate the assessed value of your property by multiplying the appraised value by the assessed ratio. For example, your house was appraised at $120,000 and your assessed ratio for residential property is listed as 25 percent. Your assessed value will be equal to $120,000 x 0.25, or $30,000.


Find out what the set tax rate is for your county. Visit the Tennessee Comptroller of the Treasury Division of Property Assessment website and look under the "Assessment Information for Each County" option. Click on the "Information by County" option and choose the county you are interested in. You will get a list of Tennessee property tax rates by county. Use the total rate to find the total amount of tax you will pay on your property. This amount will be listed as the tax rate per hundred dollars of assessed value.


Multiply your county's tax rate by your property's assessed value to determine the property tax. For example, you found your tax rate to be $4.01 per hundred dollars of assessed value and you calculated your assessed value to be $30,000. Your Tennessee property tax would be calculated as such:
($30,000 x $4.01) ÷ 100 = $1,203.

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