Clay County Chamber of Commerce

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Taxes

  CITY COUNTY
Property Taxes: (2016)
   
  Rate per $100 value $0.8732 $3.10
Ratio of Assessment:    
  Residental and Farm 25% 25%
  Commercial/Industrial 40% 40%
  Personal (Equipment) 30% 30%
     
Bonded Debt (2016) $3,657,445 $5,452,000
Assessed Valuation (2015) $18,384,085 $104,331,029
     
Hotel-Motel Tax 0% 2.50%

STATE TAX

Sales Tax 5% tax on food and food ingredients; 7% on all other tangible personal property unless specifically exempted.

Local Sale Tax Rate 2.75%

Local & State Sale Tax Collected (FY2016): $3,930,847

Income Tax
Personal: 6% on Interest & Dividends
Corporate Excise Tax: 6.5% of Tennessee taxable income
Franchise Tax: 25% of the greater of net worth or real and tangible property in Tennessee. The minimum tax is $100
Unemployment Tax: New Employers 2.7% of the first $9,000

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