Tenn. Comp. R. & Regs. 0600-13-.09 - ADJUSTMENTS TO THE TAX RATE
(1) Adjustments for
property tax incentives are limited to instances where an incentive payment in
lieu of tax is calculated on the basis of the actual rate applied to a fixed
assessment and not a percentage of an assessment.
(2) In determining TIF adjustments, the
jurisdiction may also exclude from the taxable value appearing on the roll:
(a) The taxable value of properties subject
to tax increment financing provisions adopted by the governing body pursuant to
statute; and
(b) The taxable value
of properties within an area for which an economic impact plan has been
approved by the governing body.
Notes
Authority: T.C.A. ยงยง 4-3-5103, 67-1-305, and 67-5-1601.
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