Once the property owner and the Board of Assessors have come to terms with an appropriate value, this value is provided to the Tax Commissioner for tax bill calculation. To calculate a tax bill, you must first deduct any exemptions that may apply from the assessed value; thus generating a net assessed (taxable) value. Next you multiply the net assessed value by the millage rate.

Taxes for real estate and business personal property are normally due in Floyd County on November 15th each year. Mobile/manufactured homes are due April 1 of each year and motor vehicles are due based on the owners' birthday. After the due date, for real estate and business personal property, interest is charged monthly after November 15th. Additionally, a penalty of up to 20% will apply to all taxes that are not paid by the deadline. If the property taxes remain unpaid, the Tax Commissioner has the right and responsibility to levy on the property for non-payment. Of course we consider this a last resort for tax collection and prefer to use other collection methods. Tax bills are mailed to the homeowner, never to the mortgage company. You must forward your bill to your mortgage company if necessary.