Taxes, Ad Valorem

Plain English Breakdown

The official source does not specify what happens if corrections are requested after the new deadline, leaving this as an unknown.

Changing When Property Tax Corrections Can Be Made

This bill changes when corrections can be made to property tax assessments in Tennessee, extending the deadline from two years after the tax year to ten years.

What This Bill Does

• Changes the deadline for requesting or initiating a correction of property tax assessment from March 1, no more than two years after the tax year, to March 1, no more than ten years after the tax year.

Who It Names or Affects

• Taxpayers who need to correct their property tax assessments
• Property tax assessors responsible for making these corrections

Terms To Know

tax year

The period used by the government to calculate and collect taxes, usually a calendar year.

property tax assessment

An official evaluation of property value for determining how much property tax is owed.

Limits and Unknowns

• Does not specify what happens if corrections are requested after the new deadline.
• The bill does not change other aspects of property taxes or assessments beyond this specific correction period.

Official Summary Text

Abstract summarizes the bill.

Current Bill Text

SENATE BILL 949
By Powers

HOUSE BILL 699
By Lankford
HB0699
000702
- 1 -

AN ACT to amend Tennessee Code Annotated, Title 67,
Chapter 5, relative to correction of property tax
assessments.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 67-5-509(d), is amended by deleting
the first sentence, which presently reads:
Correction of assessments pursuant to this section must be requested by the
taxpayer, or initiated by the assessor, prior to March 1, no more than the second year
following the tax year for which the correction is to be made.
and substituting instead:
Correction of assessments pursuant to this section must be requested by the
taxpayer, or initiated by the assessor, prior to March 1, no more than the tenth year
following the tax year for which the correction is to be made.
SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it,
and applies to assessments for the 2016 and subsequent tax years.