Economic Development
Clay County
Tax Information
State Tax
Sales Tax: 5% tax on food and food ingredients: 7% on all other tangible personal property unless specifically exempted.
Local Sales Tax Rate: 2.75%
Local & State Sales Tax Collected (FY2016): $3,930,847
Income Tax
Personal Tax: 6% on interest and dividends only
Corporate Excise Tax: 6.5% of Tennessee taxable income
Franchise Tax: 25% of the greater of net worth or real and tangible property in Tennessee. The minimum tax is $100
Unemployment Tax: New Employers 2.7% of the first $9,000
| CITY | COUNTY | |
| Property Taxes: (2016) | ||
| Rate per $100 value | $0.8732 | $3.10 |
| Ratio of Assessment: | ||
| Residential and Farm | 25% | 25% |
| Commercial/Industrial | 40% | 40% |
| Personal (Equipment) | 30% | 30% |
| Bonded Debt (2016) | $3,657,445 | $5,452,000 |
| Assessed Valuation (2015) | $18,384,085 | $104,331,029 |
| Hotel-Motel Tax | 0% | 2.5% |