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2020 Tennessee Code
Title 67 - Taxes and Licenses
Chapter 5 - Property Taxes
Part 17 - Certified Tax Rate
§ 67-5-1704. Special School Districts
Universal Citation: TN Code § 67-5-1704 (2020)
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- Notwithstanding the provisions of the general law or a private act to the contrary which creates a special school district, upon a general reappraisal of property as determined by the state board of equalization, the tax rate as established in any such general law or private act shall be adjusted to provide the same ad valorem revenue for such special school district as was levied during the previous year prior to such general reappraisal.
- The county assessor of property shall certify to the appropriate county trustee the total assessed value of taxable property within the jurisdiction of the special school district.
- The assessor shall also furnish such county trustee an estimate of the total assessed value of all new construction and improvements not included on the previous assessment roll and the assessed value of deletions from the previous assessment roll.
- Exclusive of such new construction, improvements and deletions, the county trustee, in the event of a general reappraisal as determined by the state board of equalization, shall determine and certify the adjusted tax rate pursuant to this section.
- For the purpose of calculating the adjusted rate, the county trustee shall use the taxable value appearing on the roll exclusive of taxable value of properties appearing for the first time on the assessment roll.
- The procedure or formula for calculating the certified adjusted tax rate shall be in accordance with policies as established by the state board of equalization pursuant to § 67-5-1701(b). A levy of tax found to be based on an erroneous calculation may be revised prior to tax billing on certification of a revised calculation by the state board of equalization accepted by act or resolution of the board of education of the special school district without further notice. If the error is certified after tax billing, the revised rate shall take effect as of the next general ad valorem levy for the special school district.
- The county trustee shall certify such adjusted tax rate to the school board of the special school district within a reasonable time following the general reappraisal, and in addition, shall post such adjusted tax rate at each school within the special school district, at the appropriate courthouse, and at one (1) other public building within the appropriate county.
- If additional revenue is required in a special school district following such general reappraisal and the adjustment to the tax rate under this section, the general assembly shall by general law or private act set the tax rate for such special school district at a level to generate the ad valorem revenue necessary for such special school district. Before the board of education of the special school district requests legislation to exceed the certified rate as determined in this section, it shall first publish notice of its intent to exceed the certified rate in the manner required of cities and counties pursuant to § 67-5-1702.
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