About Property Tax

 

General Property Questions

1. When are property tax bills mailed out?

During October of each year. Property tax bills are mailed to the owner of record (as of 1 January). If a deed change occurs after the first of the year through August 31, a tax bill is mailed to the new owner of the property as a courtesy. New owners should contact their title company or review their closing statement to determine who is responsible for paying the taxes. Payment of property tax depends on when the property is transferred. Unpaid taxes continue to accrue against the property.

2. When are Tipton County Property taxes due? 

Taxes are due the first Monday in October through the last day of February of the following year without penalty and interest charges.

3. Can I make partial payments? 

Partial payments can be made on taxes due in the Trustee's office and on the website. Multiple payments may be made.  However, penalty and interest will be added to the balance after the February 28th deadline.

4. What happens if I miss the tax payment deadline? 

County property tax notices are mailed out in late September or early October and are payable beginning the first Monday in October. They become delinquent March 1 each year. The Trustee's Office collects County property taxes for the current year. Delinquent taxes remain in the Trustee's Office for one year while accruing penalty and interest of 1½% (rounded to the nearest dollar) per month.
After taxes have been delinquent for one year, they are turned over to the Tipton County Chancery Court and the Delinquent Tax Attorney for pursuit of collection. Once delinquent taxes are turned over to Chancery Court, additional fees and penalties accumulate as a result of prosecuting the tax collection suit. Penalty and interest continue to accumulate.  After the conclusion of the delinquent tax suit, the county holds a tax sale to sell property in order to collect delinquent taxes.

5. What time period do these taxes cover? 

The taxes that become payable in October cover the current calendar year. 

6. Where can I pay my taxes? 

You can mail your check or money order payable to Tipton County Trustee to: P.O. Box 487, Covington, TN 38019 or 1 Pleasant Ave, Court Square Courthouse, Rm 203, Covington, TN 38019. You may also bring your payment to the Trustee's office located in the Courthouse in Covington. Our office is open 8:00 am until 5:00 pm Monday through Friday.  The 2016/2017 schedule for collecting taxes at Munford City Hall is as follows:  Beginning the Wednesday after you receive your notice and every Wednesday thereafter until February 22, 2017.  Hours are from 8:30 AM to 4:30 PM.  Out to lunch from 12:00 – 1:00. 

7. What does the term "EtUx" beside my husband's name on the property bill mean? 

EtUx is a Latin phrase meaning "and wife." The phrase "EtVir" means "and husband," EtAl means "and others." 

8. What do some of the terms on my tax bill mean? 

Check the online glossary section for definitions of terms on your tax bill.

9. My mortgage company pays my taxes. What do I do with the notice? 

Tax information should be forwarded to your mortgage company.

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10. My Name and/or Address are incorrect. What needs to be done? 

Contact the Assessor's Office at 901-476-0213 and also the Trustee's Office at 901-476-0211 in the event your taxes are not paid.

11. What is the Tipton County property tax rate? 

The 2016 tax rate is $2.42 per hundred dollars of assessed value.

12. How do I calculate my taxes? 

To calculate the amount of your taxes, first multiply the total appraised value by the properties classification (see chart below), then divide by 100, then multiply by the tax rate. Using a $50,000 appraised value as an example:


$50,000 X 25% (Residential) = $12,500 Assessed Value
then $12,500/100=125 
then $2.42 X 125 = $302.50

 

13. What is the assessed value of a property? 

The assessed value of property is a percentage of the total appraisal. The percentage used above is based on the use of the property:


Residential - 25%
Commercial - 40%
Industrial - 40%
Personal - 30%
Farm - 25%


Contact the Assessor's Office for questions on property classification at 901-476-0213.

14. Do I pay city and county taxes? 

Check with your local City Hall to see if you have a city property tax.


171 Covington 901-476-9613
036 Atoka 901-837-5300
087 Brighton 901-475-0324
467 Mason 901-294-3525
512 Munford 901-837-0171

15. How does filing Bankruptcy affect my taxes?

Upon receiving a bankruptcy notice, a deputy in the Trustee's office files a claim. Taxes are generally paid in installments approved by the Bankruptcy Court. Under federal law, the Trustee is prohibited from taking any action in collecting realty and personal property taxes until the bankruptcy is dismissed or discharged. We will still mail a tax notice just to let you know what your current taxes are. If you are in bankruptcy, this notice is not an attempt to collect these taxes.

16. Can I pay my County property taxes with a debit or credit card? 

Yes, you may pay online. The vendor charges a service charge for this method of payment.

17. What are "Personal" property taxes?

Personal property taxes are taxes that are based on temporary or moveable property such as furnishings, office machines, computers, telephones, vehicles and other such 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. The Assessor furnishes a schedule for each business owner to provide a detailed list of all tangible personal property owned by the business. The Assessor determines the value of your personal property based on the information supplied. It is the duty of the taxpayer 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 given. Anyone in business on January 1 of any given year is responsible for the entire year's tax, even if they closed their business prior to December 31 of that same year. If you close your business, you must first contact the Tipton County Clerk's Office at 901-476-0207 to cancel your business license. Also, contact the Assessor's Office at 901-476-0213 to inform them that your business is closed in order to take your business off the tax roll for the next year. 

18. What do my Property Taxes do? 

All services provided by Tipton County Government are made available as a result of tax revenues collected. The greatest amount of revenue received is from sales tax and property tax.

County property taxes for the 2016-2017 fiscal year are levied at a rate of $2.42 per $100 of assessed value. The 2016 tax rate is divided between County General Government, the Tipton County School System, Tipton County Public Works and Tipton County Debt Service Fund.

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Exemptions

1. Are there any discounts or exemptions for the elderly, disabled, or veterans? 

The State of Tennessee offers its Tax Relief Program for low-income elderly, disabled and disabled veterans. Eligibility requirements include: age/disability; ownership/residency; and income. To apply for property tax relief, you must meet three basic criteria - these are described below. 

Age/Disability

During the tax year for which they are applying, an elderly applicant must turn 65 on or before December 31. In order to apply as a disabled homeowner, a person must have become disabled on or before December 31 of the tax year. Disabled veterans must have a total and permanent disability rating from a service-connected disability that meets certain criteria under state guidelines.  Widow(er)s of disabled veterans may be eligible as well if they meet the qualifications.  An applicant may apply if they are awaiting a decision on their disability claim. The state office must receive the final decision by June 30 following the delinquency date. The final decision must indicate their disability began on or before December 31 of the tax year.

Ownership/Residency

An applicant must be able to document that they had ownership of the taxable property during the tax year. Ownership may be documented by a tax bill/receipt, warranty deed, probated will, title or bill of sale for a mobile home.

Income Requirement

Elderly or Disabled Homeowners

The combined annual income of all living owners of record and applicant's spouse cannot exceed $29,180 for the year 2015. Annual income from all sources shall include; but is not limited to, Social Security payments less the Medicare deduction, supplemental security income (SSI), retirement and pension benefits, veteran's benefits, worker's compensation, unemployment compensation, salaries and wages, alimony, total interest and total dividends. For business and/or rental income, include only the net income or loss after expenses as documented by your federal income tax return.

Disabled Veterans and Qualified Widow(er)s

The is no income limit for qualified disabled veterans or qualified widow(er)s.  Tax relief is paid on the first $100,000 of market value of the home.
Applications for tax relief are available in the Trustee's office. For more information, call our office at 901-476-0211. 
You may also visit https://www.comptroller.tn.gov/pa/patxr.asp for more information regarding Tennessee's tax relief program.

Reviewing Your Property Info

1. Is there a charge for reviewing information about my property? 

For an individual property, there is no charge for reviewing tax information.

2. Is my property information viewable by other people? 

Any individual or company is allowed to review it. Property tax information is public record.

Property Assessment

1. Where can I find information about the assessed value of my property? 

The County Assessor is responsible for the appraisal and assessment of property. You may contact the County Assessor's Office at 901-476-0213 or visit www.assessment.state.tn.us.

2. How are the County Assessor's Office and the Trustee's Office related? 

The County Assessor is responsible for the appraisal and assessment of property, according to state law. The Trustee's Office is responsible for billing and collection of taxes based on assessments. The Trustee has no authority over the amount of assessment, nor can she be involved in the appraisal process.

 

3. What is the appeal process? 

If you do not agree with your appraisal you may schedule an appointment by contacting the Assessor's Office (901) 476-0213. The appeal process begins in the county Assessor's office by appearing before the Local Board of Equalization. This board meets annually during the first two weeks of June.
 

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