Property Assessor

What Does the Assessor Do?

The assessor is required by the Tennessee Constitution to list and value all property subject to ad valorem taxation on an assessment roll each year. The "ad valorem" basis for taxation means that all property should be taxed "according to value" which is the definition of ad valorem. The assessed value is a percentage of "fair market value" or "use value" as prescribed by law.

Property is assessed as follows:

  • Commercial Property - 40% of "Fair Market Value"
  • Residential Improvements - 25% of "Fair Market Value"
  • Residential Land - 25% of Its "Fair Market Value" or "Use Value"
  • Personal Property for Commercial Businesses - 30% of the Appraised Value as Reported on the Tangible Personal Property Schedule