Taxes & Incentives

State Sales Tax: 7%
Local Sales Tax: 2.75%
County Wheel Tax: $65 per vehicle

Tax Rate - per $100 evaluation

  Within City Limits Outside City Limits
City General Fund $2.40 $0.00
County General Fund $2.97 $2.97
  $5.37 $2.97


Examples:

Cost of Home Assessment Ratio(25%) Combined City & County Taxes ($4.12)
$65,000 $16,250 $872.62 per year
$100,000 $25,000 $1,312.50 per year
$150,000 $37,500 $2,013.75 per year
$200,000 $50,000 $2,685.00 per year
$250,000 $62,500 $3,356.25 per year
$300,000 $75,000 $4,027.50 per year



NOTE: There is NO State Tax on real property in Tennessee

 

Assessment Ratios:

Industrial & Commercial Real Property: 40%
Industrial & Commercial Tangible Personal Property: 30%
Residential and Farm Real Property: 25%

 

Tax Exemptions:

- Goods-in-process
- Finished goods inventories
- Goods-in-transit

LAUDERDALE CHAMBER/ ECONOMIC & COMMUNITY DEVELOPMENT

123 S. Jefferson St., Ripley, TN 38063 | P: 731.635.9541 or 8463 F: 731.635.9064