Rate Breakdown

Property taxes in Henry County are calculated by multiplying the assessed value (minus exemptions) by the total local millage rate.

How Property Tax Works in Henry County

Property taxes in Henry County, Tennessee, are determined by a combination of the property's appraised value, the assessment ratio, and the local tax rate. The process begins with the Property Assessor, who determines the fair market value of your real estate. Under Tennessee state law, residential property is assessed at 25% of its appraised value, while commercial property is assessed at 40%.

Once the assessed value is established, it is multiplied by the local tax rate, often referred to as the millage rate. This rate is set annually by the Henry County Commission and the City of Paris (if applicable) to fund essential public services such as schools, road maintenance, and emergency services. Because tax rates are adjusted to meet budgetary requirements, your final tax bill is the product of your assessed value multiplied by the current total tax rate per $100 of assessed value.

Available Exemptions

Tennessee offers several property tax relief programs to assist eligible homeowners. These programs are designed to reduce the tax burden on specific populations. Common exemptions include:

• Property Tax Relief Program: Available to low-income elderly residents (65 and older), as well as disabled homeowners, who meet specific income requirements set by the state.
• Disabled Veterans Exemption: Tennessee provides significant tax relief for disabled veterans or their surviving spouses who meet the criteria of a service-connected disability as determined by the U.S. Department of Veterans Affairs.
• Tax Freeze Program: Qualifying seniors may be eligible for the Property Tax Freeze Program, which prevents the tax bill on their primary residence from increasing due to future property tax rate hikes.

It is important to note that these programs require an annual application through the Trustee’s office. Eligibility criteria and income limits are subject to change, so residents should verify their status with the Henry County Trustee.

Payment Schedule & Deadlines

In Henry County, property tax bills are typically mailed in October of each year. Taxes become due and payable upon receipt. The deadline for paying your property taxes without penalty is February 28th of the following year. If payment is not received by this date, the taxes are considered delinquent.

Delinquent taxes accrue interest at a rate of 1.5% per month, compounded monthly. Failure to pay property taxes can eventually lead to legal action, including tax liens on the property and potential sale at a delinquent tax auction. We encourage taxpayers to utilize the online payment portal or visit the Trustee’s office to ensure timely processing.

Appealing Your Assessment

If you believe your property has been incorrectly appraised or classified, you have the right to appeal. The process begins with an informal review with the Henry County Assessor of Property. If you are unsatisfied with the outcome of the informal review, you may file a formal appeal with the Henry County Board of Equalization. This board meets annually to hear taxpayer grievances. If the board’s decision is not satisfactory, further appeals may be directed to the Tennessee State Board of Equalization.