County assessors of property appraise real estate for assessment purposes. The county commission and city governing bodies determine local property tax rates. The property taxes are collected by county trustees and the city recorder. Property assessments are based on a percentage of fair market value of the property as of each January 1. The required percentage varies according to statutory classification based on the actual or potential use of the property. For example, residential property is taxed at twenty-five percent (25%) and commercial property is taxed at forty percent (40%) of the property’s appraised value. Tax rates are calculated as an amount per one hundred dollars ($100.00).

Formula to calculate Sumner County taxes- (Please note that each county and city may have different tax rates.)

Appraised Property Value x 25% = Assessed Taxable Value x 2.5 (%) (tax rate) ÷ 100= Property Tax

FOR EXAMPLE

Appraised Property Value $100,000 x 25%=$25,000 (Assessed Taxable Value) x 2.5 (%) (Tax rate)=62,500 ÷ 100= $625.00 Property Tax