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 |