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Relocation > Taxes

 

Taxes

The following information is based on a commercial business having a tract of land valued at $240,000, a building value at $4,000,000 and personal property valued at $2,000,000. The 2014 tax rate for the City of Crossville is $0.53 per hundred of assessed value. The County rate is $1.4975.

CITY OF CROSSVILLE CUMBERLAND COUNTY  
$4,000,000 $4,000,000 Total Improvement Value
240,000 240,000 Total Land Value


 
$4,240,000 $4,240,000 Total Improvement and Land Value
x 40% x 40% Commercial Assessment of 40 Percent of Value


 

$1,696,000

x .0053

$1,696,000

x .014975

 Commercial Assessment 

2014 Tax Rate



 

$8,988.80

$25,397.60

Total Taxes for Land and Building

$2,000,000 $2,000,000 Total Personal Property Value
x 30% x 30% Personal Property Assessment of 30 Percent of Value


 
$600,000 $600,000 Total Personal Property Assessment

x .0053

x .014975

2014 Tax Rate


 
$3,180.00 $ 8,985.00 Total Taxes for Personal Property

$8,988.80 $25,397.60 County Taxes on Land and Building
$3,180.00 $8,985.00 County Taxes on Personal Property


 
$12,168.80 $34,382.60 Total Taxes for Real and Personal Property (Based on 2014 Rate)

The following information is based on a Residential House having a total land and building value of $150,000. The 2014 tax rate for the City of Crossville is $0.53 per hundred of assessed value.  The County rate is $1.4975 per hundred of assessed value.

REAL PROPERTY COUNTY TAXES

   
$150,000 Total value of land and building
x 25% Residential Assessment at 25 percent of value

 
$37,500 Residential Assessment of land and building
x .014975 2014 Cumberland County Tax Rate of $1.4975 per hundred of assessed value

 
$561.56 Total County Taxes for land and building based on 2014 Tax Rate

REAL PROPERTY CITY TAXES

 
$150,000

$37,500

Total value of land and building x 25% =

Residential Assessment of land and building

x .0053 2014 City of Crossville Tax Rate of $0.53 per hundred of assessed value

 
$198.75 Total City of Crossville Taxes for land and building based on 2014 Tax Rate

 

Incentives

Crossville-Cumberland County

Incentives Proposal

 

 

            An example of the PILOT (PAYMENT-IN LIEU-OF TAX) schedule offered to qualified companies on real and personal property:

 

                        Year One........0%

                        Year Two........0%

                        Year Three......0%

                        Year Four........0%

                        Year Five........25%

                        Year Six.........25%

                        Year Seven.....50%

                        Year Eight......50%

                        Year Nine.......75%

                        Year Ten........75%    

 

 

 

 

 

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Crossville-Cumberland County
Chamber of Commerce
34 South Main Street
Crossville, TN 38555
(931) 484-8444
1-877-GOLF-TN-1 (465-3861)