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Types of Property Taxes
Real Property Tax
Real estate taxes are collected by the Montgomery County Trustee's Office on an annual basis beginning the first Monday of October each year, through the last day in February of the following year. It is the responsibility of each taxpayer to ensure that his/her taxes are paid timely whether or not a tax notice is received.
The Montgomery County Assessor of Property establishes the assessed value of property, and the Board of Commissioners set the tax rate. Once the Assessor certifies the assessment roll and the tax rate is set, the Trustee applies the tax rate to every $100 of assessed value. The Trustee prints and mails tax notices to the last known mailing address. In cases where the property owner pays through an escrow account, the mortgage company normally requests the tax information, and the owner receives the original notice for his/her records.
Personal Property Tax
Personal property taxes are based on temporary or moveable property such as furnishings, office machines, computers, telephones, vehicles and other items that are used by a company or a person to operate a business.
The tax is based upon information furnished to the Property Assessor each year by the business owner. The Assessor of Property furnishes a schedule for each business owner to provide a detailed list of all tangible personal property owned by the business. The Assessor of Property determines the value of the personal property based on the information supplied.
It is the duty of the owner of the business to fully list all tangible personal property, to place a correct value on the property and to sign and return the schedule prior to the due date. If the schedule is not returned prior to the due date, a forced assessment is made.
The personal property tax is due and payable in its entirety if business was open for 1 day in calendar year.
If you close your business, please:
- Contact the State of Tennessee at 1-800-342-1003 to cancel your business license.
- Contact the Property Assessor's Office at 931-648-5709 to inform them that your business is closed in order to take your business off the tax roll for the next year.
- Pay your County personal property tax at the Trustee's Office (931) 648-5717.
- Contact the City Tax Office at (931) 645-7436 to pay city personal property tax, if property is located in city limits of Clarksville.
Rollback taxes are assessed when a parcel with a Greenbelt classification becomes non-qualified by virtue of a change in use. The rollback tax is based on the amount of tax saved by the difference in the Greenbelt value and the market value of the property. The rollback tax includes the preceding three years for agricultural and forest land and the preceding five years for open-space land.
Unless otherwise stated in a written contract, a seller is liable for the rollback taxes if, as a result of the sale, the property no longer qualifies as Greenbelt. If a buyer converts the property from Greenbelt use after the sale takes place, the buyer is liable for any rollback taxes. Further, a buyer who declares in writing at the time of sale an intention to continue the greenbelt classification, but fails to file the necessary form with the Montgomery County Assessor of Property within 90 days of the sale, rollback taxes are assessed and the buyer becomes the sole responsible party for payment.
Unpaid rollback taxes become a first lien against the property no matter who is responsible for payment.
Public Utility Tax
Utility and Transportation Property Tax is based on an assessment made by a division of The State Comptroller of the Treasury. Properties assessed include realty within the state owned by, and all personal property used and/or leased by, railroads, public utility or transportation companies.
|Telephone Gas Commercial Air Carrier||Gas||Commercial Air Carrier|
|Freight/Private Car||Electric Light||Water Transportation Carrier /Barges, etc.|
|Street Car||Water &/or Sewerage||Cellular Telecommunications|
|Power ||Express||Motor Bus and/or Truck|
Address questions regarding assessments to:
Tennessee Comptroller of the Treasury
Office of State Assessed Properties
James K. Polk Building
505 Deaderick St., Ste. 1700
Nashville, TN 37243
Telephone: (615) 401-7900