Taxes & Incentives

Taxes

Local Tax Structure City County
Property Taxes: Per $100 Value $1.77 $2.52
Ratio of Assessment
Residential & Farm 25% 25%
Commercial & Industrial 40% 40%
Personal (Equipment) 30% 30%

State Tax Structure

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

Other Tax:

Personal: 6% on Interest and Dividends.
Corporate Excise Tax: 6.5% of Tennessee Taxable Income.
Franchise Tax: 0.25% of the greater of net worth or real and tangible property in Tennessee. The minimum Tax is $100.
Unemployment Tax: New Employers is 2.7% of the first $9,000.

Incentives

Incentives are available from the State of Tennessee, TVA and the local industrial development board. Click on the links below to see the incentives from each entity:

Local Incentives

Local incentives in the form of payment in lieu of tax agreements are available through the Shelbyville Industrial Development Board. These incentives are based on the level of investment and the number of jobs created.

State of Tennessee & TVA Incentives