Taxes & Incentives

Tennessee offers corporate citizens a competitive tax structure that provides a cost-effective place to operate their businesses.

Greene County Incentives

Tax Abatements

Greene County offers tax abatements on specific projects that qualify through the local Industrial Development Board. Greene County has a tax incentive program, PILOT (Payment In Lieu Of Taxes), that not only provides for property tax abatement for the building and equipment but is also applicable for subsequent expansions or phases. 

Natural Gas

Atmos Energy provides flexibility in its service and an economic development rate, depending on usage, which could save the company money during the first four years of operation. 

Summary of Greeneville/Greene County Taxes

Property tax per $100 assessed value:

  • City - $2.2153
  • County - $1.9731 (outside city limits)
  • County - $1.7613 (inside city limits)

Property is assessed by the following methods:

  • Residential and Farm – 25%
  • Commercial/Industrial – 40%
  • Personal property tax – 30%

Sales Tax

  • State - 7%
  • Food/food ingredients - 4%
  • County - 2.75%

Community Relocation Team

A team of community leaders will be assembled to:

  • Assist in identifying buildings and land -- www.greenecountyprospector.com
  • Assist with short-term and long-term housing for transferring families
  • Assist with spouse employment
  • Provide windshield tours of the community
  • Host private receptions and luncheons for new families to meet community leaders and selected others
  • Assist company with locating new suppliers and vendors
  • Serve as a liaison to all pubic organizations, i.e. sewer and water department, zoning and planning offices
  • Assist company in obtaining all state and local permits

Tennessee’s Competitive Incentives

  • Visit the Tennessee State Incentives websiteA Right-to-Work State
  • Worker's Compensation Act Revised 2011
  • No sales tax on:
    • Industrial machinery (machinery that is necessary and primarily for the fabrication of a product)
    • Repairs to industrial machinery
    • Pollution control equipment
    • Raw material
  • No state sales tax on manufacturing equipment for qualified businesses
  • No state property tax
  • No property tax on:
    • Goods-in-process
    • Finished product inventories
    • Goods-in-transit (Freeport)
  • No state personal income tax on wages or salaries; however, certain dividend and interest income received by a Tennessee resident is taxable
  • Offers FastTrack infrastructure and training grants up to $750,000
  • Offers industrial machinery tax credit of 1% of purchase price
  • Offers a franchise tax jobs credit of $4,500 per new, full-time employee for eligible businesses that meet requirements of increased employment and additional capital investment
  • Net operating loss carries forward 15 years
  • Offers accelerated depreciation on personal property
  • Pollution control equipment is exempt from the franchise tax
  • Offers reduced sales tax on energy fuel and water for qualified manufacturers
  • Offers “Double Weighting” of Tennessee sales for franchise and excise taxes
  • Consistently one of the lowest per capita taxed states in the nation
  • Lowest utility costs in the nation
  • Tennessee is one of only eight states with a AAA bond rating
  • Tennessee’s constitution requires a balanced state budget

YOUR BOTTOM LINE: A low cost of doing business in Tennessee!

Electric and Tennessee Valley Authority


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