Property Tax and Proration Calculators

Property taxes in Tennessee are calculated utilizing the following four components:

Appraised Value

The appraised value for each taxable property in a county is determined by the county property assessor. This amount is an estimate of market value based on an established set of tables, manuals, and procedures mandated by state statute, and is intended to provide an equal treatment of all properties in the jurisdiction for tax purposes.

Assessment Ratio

The assessment ratio for each different class of property is established by the Tennessee Constitution, Art.2, § 28 and TCA 67-5-801 state law as follows:



 Real Property



Tangible Personal Property

RatioProperty Classification RatioProperty Classification
25%Residential/Farm 30%Commercial/Industrial
40%Commercial/Industrial 55%Public Utility
55%Public Utility   


Assessed Value

The assessed Value is calculated by multiplying the appraised value by the assessment ratio.

Tax Rate

The tax rate for each county and municipality is set by the County Commission or the City Council based on the amount of monies budgeted to fund the provided services. These tax rates vary depending on the level of services provided and the total value of the county’s tax base.

The current tax rates for 2023 are as follows:

  • County: $2.99
  • City: $1.23
  • Combined Rate: $4.22

Calculating Property Tax Example

The example below is for a typical residential property with an Appraised Value of: 
and the most recent Montgomery County Tax Rate of: 
$2.99 per $100 of assessed value or .0299 


Step 1

Multiply the Appraised Value times the Assessment Ratio 
$100,000 X 25% = $25,000 
This gives you the property’s Assessment Value 



Step 2

Multiply the Assessment Value times the Tax Rate 
$25,000 X (2.99/100) = $748 (rounded to nearest dollar) 
$25,000 X .0299 = $748 
This gives you the amount of the county property tax bill for this particular property. 


If your property is also in the city, follow the same steps, using the 2023 city tax rate of $1.23 to figure your city property tax bill. 
The billing amount you receive on your actual tax bills may vary slightly based on the method used for rounding. 
The tax rates for the current tax year are established by the County Commission and City Council in July of that year. The best possible estimate of taxes made between January 1st and July is done by utilizing the tax rates from the previous year. 


Calculate Your Property Taxes

Calculate property tax based on:

Proration Calculator

Enter Total Appraised Value:

Select Date(defaults to today):


Through Date Selected:

Remainder of Calendar Year:

Property Tax Calculator

Property Classification Residential Farm Commercial/Industrial Tangible Personal Property Exempt

Within city limits?

Appraised Value:

Calculated Values

Assessed Value:

County Property Tax:

City Property Tax:

Estimated Total Property Tax: