Property Tax

Property Tax Payments

Tax payments are due annually by the last day of February and are accepted in person at City Hall, online, or by phone. A one and one-half percent (1.5%) per month interest are assessed on late payments.

 

  • Real property is assessed at 25% of the total market value.
  • Commercial property is assessed at 40% of the total market value.
  • Personal property is assessed at 30% of the total market value.
  • The City Tax rate is $1.6377 per $100 of assessed value.
  • Obion County tax rate inside the City limit is $1.1653 per $100 of assessed value.
  • Obion County tax rate outside the City limit is $1.3804 per $100 of assessed value.

How to Calculate your Tax Bill

Example

Calculations

Start with your property market value

(property value)

$105,000

Calculate assessed value

(residential)

x .25

(assessed value)

= $26,250

Divide by $100

÷ $100

= $262.50

Multiply by tax rate

x $1.6377

= $429.89625

Round to the nearest whole number

= $430.00

Taxes owed

Total   $430.00