Tenn. Comp. R. & Regs. 0600-07-.05 - ORDER OF EQUALIZATION

(1) On or before July 1, the State Board of Equalization will meet and consider a resolution and order to local property tax collecting officials and to other officials involved in the preparation of property tax bills, directing that assessments of commercial and industrial tangible personal property be equalized on the basis of the appraisal ratio established for the jurisdiction in which such property is located, such equalization to be reflected in the property tax bill sent to the taxpayer.

(2) The resolution and order shall reflect that equalization of any particular property assessment shall be conditioned upon the taxpayer having filed the reporting schedule required by law, and the equalization shall be applied to the assessment as finally accepted or determined by the assessor or the local or state boards of equalization.

(3) Copies of the approved resolution and order shall be furnished to each property tax collecting official and to other officials responsible for issuance of property tax bills.

(4) Property tax bills which are based in whole or part on an assessment of commercial and industrial tangible personal property shall include information showing the specific equalization factor applied to the personal property assessment.

Notes

Tenn. Comp. R. & Regs. 0600-07-.05

Original rule filed July 7, 1989; effective August 21, 1989.

Authority: T.C.A. §§ 67-1-305 and 67-5-1501.