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2020 Tennessee Code
Title 67 - Taxes and Licenses
Chapter 5 - Property Taxes
Part 8 - Classification and Assessment — Real Property
§ 67-5-809. Mineral Interests — Back Assessments — Location
Universal Citation: TN Code § 67-5-809 (2020)
- The collector of taxes shall place a back assessment against the mineral interest pursuant to § 67-1-1005, if the tax collector determines that the mineral interest property has previously escaped taxation. If the collector of taxes has not previously provided notice to the owner of a dormant mineral interest of the assessment of taxes on such interest, then there shall be no back assessment of taxes, but the owner of the mineral interest shall be liable for taxes accruing after July 1, 1987, as otherwise provided by law.
- Failure of the mineral interest owner to register a mineral interest with the property assessor within three (3) years of July 1, 1987, shall subject the property to back assessment or reassessment pursuant to chapter 1, part 1 of this title, and to a penalty of twenty-five percent (25%) of the assessment or back assessment of taxes.
- Any mineral interest owner who, although currently paying taxes on a mineral interest assessment, fails to identify the location of that interest as required in § 67-5-804 shall be subject to penalty and interest. A penalty of ten percent (10%) shall be levied on the current assessment of that mineral interest.
- Further, any mineral interest owner failing to identify the location of the mineral interest according to § 67-5-804 shall not claim payment of taxes as a use of mineral interest as provided in title 66, chapter 5.
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