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 is assessed on late payments.
- Real property is assessed at 25% of total market value.
- Commercial property is assessed at 40% of total market value.
- Personal property is assessed at 30% of total market value.
- City Tax rate is $2.16 per $100 of assessed value.
- Obion County tax rate inside City limit is $1.69 per $100 of assessed value.
- Obion County tax rate outside City limit is $2.07 per $100 of assessed value.
|How to Calculate your Tax Bill||Example||Calculations|
|Start with your property market value||(property value)||$100,000|
|Calculate assessed value||(residential)||x .25|
|(assessed value)||= $25,000|
|Divide by $100||÷ $100|
|Multiply by tax rate||= $2.16|
|Taxes owed||= $540.00|
|Round to the nearest whole number||= $540.00|