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2017 Tennessee Code
Title 67 - Taxes and Licenses
Chapter 5 - Property Taxes
Part 15 - Assessment Review -- State Board of Equalization
§ 67-5-1512. Certification of board action -- Penalties and interest.
Universal Citation: TN Code § 67-5-1512 (2017)
- (a)
- (1) Upon the hearing of any appeal and complaint, the state board of equalization or the assessment appeals commission under § 67-5-1502 having made its determination of the assessment of the property subject to the appeal and complaint, the board shall issue, upon request, an official certificate relative to the action of the state board or the assessment appeals commission, as the case may be.
- (2) The official certificate shall show the description of the property and the assessment as determined by the state board of equalization or the assessment appeals commission, as the case may be.
- (3) The board shall provide written notice of its final actions on appeals and complaints to the parties and to others upon request. Written notice includes notification by electronic means, and the record of actions or notice may be preserved in digital or electronic format.
- (b) Penalty and interest otherwise due on delinquent property taxes shall not accrue while an appeal of the assessment is pending before the county or state boards of equalization; provided, that the taxpayer, before the delinquency date, either pays the full tax due or the amount the taxpayer would owe based on the taxpayer's good faith claim for relief. The city or county collecting official may decline to accept the disputed portion of tax. Any tax later found to be refundable, or any additional tax due following the appeal, will accrue interest from the delinquency date at the composite prime rate published by the federal reserve board as of the delinquency date, minus two (2) points. On motion of the city or county to whom the tax is owed, the state board of equalization will dismiss the appeal of any taxpayer who fails to pay delinquent taxes that have accrued on property that is the subject of the appeal, or who fails to pay at least the undisputed tax related to a properly appealed assessment. Taxes related to a properly appealed assessment before the county and state boards of equalization, shall not be deemed delinquent if the taxpayer has paid at least the undisputed portion of tax while the appeal is pending. Delinquency penalty and interest postponed under this section shall begin to accrue thirty (30) days after issuance of the final assessment certificate of the state board of equalization and until the tax is paid.
- (c) Notwithstanding other provisions of the law, the interest rate on a deferred refund shall increase two (2) points from the date of the deferral sixty (60) days after the board of equalization decision is rendered until the refund is finally paid.
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