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Tennessee Property Tax

Tennessee Property Taxes are computed on the basis of four components. Appraised value of your property, State Assessment Ratio, Assessed Value and the County Tax Rate are the basic data that go into the calculation of TN Property Tax. While the appraised value of a real property is determined by the county assessor at local level, the assessment ratio is established by the state of Tennessee according to the TN Property Tax Law. The assessed value is obtained by multiplying the appraised value by the appropriate assessment ratio. Finally the assessed value is multiplied by the property tax rate to produce Real Estate Tax in Tennessee.

Tennessee Property Tax Rates

The Tennessee Property Tax Rate is not the same throughout the state but varies for each county because it is determined by the county commission on the basis of budgetary allocations for various public utilities and services. The Division of Property Assessments under the Tennessee Comptroller of the Treasury maintains data on assessed value of real property as well as property tax rates of counties. You can search through the TN Property Tax Records to get appropriate data for the calculation of your property tax bill in Tennessee.

All taxable real property in the state of Tennessee is classified for the purpose of taxation. Each type of property is treated with a different Assessment ratio to calculate the assessed value. The various classes of property along with the applicable assessment ratio are mentioned below.
  • Residential property 25%
  • Business personal property 30%
  • Commercial and industrial property 40%
  • Farm property 25%
  • Public utility property 55%
To get a detailed account of Tennessee Real Estate Tax System and its various aspects, such as Property Tax Relief, Exemptions, Appeal Process etc, visit the official site of Tennessee Comptroller of the Treasury.


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