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| Taxes & Incentives |
State Sales Tax: 7%
Local Sales Tax: 2.75%
County Wheel Tax: $55 per vehicle
| Tax Rate - per $100 evaluation |
| |
Within
City Limits |
Outside
City Limits |
| City General Fund |
$1.79 |
$0.00 |
| County General Fund |
$2.55 |
$2.55 |
| |
$4.34 |
$2.55 |
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Examples:
| Cost of Home |
Assessment Ratio(25%) |
Combined City & County Taxes ($4.12) |
| $65,000 |
$16,250 |
$699.50 per year |
| $100,000 |
$25,000 |
$1,030 per year |
| $150,000 |
$37,500 |
$1,545 per year |
| $200,000 |
$50,000 |
$2,060 per year |
| $250,000 |
$62,500 |
$2,575 per year |
| $300,000 |
$75,000 |
$3,090 per year |
NOTE: There is NO State Tax on real property in Tennessee
Assessment Ratios:
Industrial & Commercial Real Property: 40%
Industrial & Commercial Tangible Personal Property: 30%
Residential and Farm Real Property: 25%
Tax Exemptions:
- Goods-in-process
- Finished goods inventories
- Goods-in-transit
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