Tennessee

Tennessee has an effective property tax rate of 0.56%, with a median annual property tax of $1,430. Properties are assessed at 25.0% of market value and reassessed every 4-6 years (varies by county; reappraisal cycle set by state board of equalization; most counties on 4 or 5 year cycle). Payments are due annual.

Effective Rate

0.56%

Assessment Ratio

25.0%

Median Annual Tax

$1,430

Payment Frequency

Annual

Appeal Deadline

By June 15 to County Board of Equalization (or within 45 days of notice in reappraisal year)

Due Dates

Due October 1; delinquent after February 28 of following year. Some counties due in other months.

Reassessment Cycle

Every 4-6 years (varies by county; reappraisal cycle set by State Board of Equalization; most counties on 4 or 5 year cycle)

Homestead Exception

Tax relief for elderly (65+), disabled, and disabled veterans: pays first $30,000 of full market value only. Additional state-funded reimbursement available.

Key Notes

Assessment ratio is 25% for residential/farm; 40% for commercial/industrial. No state income tax on wages. Low assessment ratio keeps property taxes modest. State Board of Equalization oversees assessment uniformity.

Late Penalty

0.5% penalty per month on delinquent taxes (6% annually); additional interest of 1% per month starting March 1

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