Property Tax Higher on Rental?

[Kelly David Sansom]

Hey helpful people, I know that in some states property tax is higher on a rental property than an owner occupied.  Is this the case in Chattanooga?  If so, what is the rate?  Good to know so as I look at Zillow estimates I can change that numbers accordingly.

[Joel Calkins]

Hey there Kelly,

According to the City of Chattanooga's official website "The Tax Rate is set by City Council each year as part of the annual budget process. The current tax rate is 2.2770 per $100 of assessed valuation. Residential and commercial properties are assessed at 25% and 40% of appraised value respectively."

Other than that I haven't seen any specifics on exact rates for rental properties.

When running deals I like to just use the average millage rate for the state. In Chattanooga, the rate is 1/4 Mill per $1000 of assessed value.