§ 67-5-1512 — Certification of board action - Penalties and interest

(a) (1) Upon the hearing of an appeal and complaint, the state board of equalization 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. (2) The official certificate must show the description of the property and the assessment as determined by the state board of equalization. (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) (1) Penalty and interest otherwise due on delinquent property taxes does not accrue while an appeal of the assessment is pending before the county or state boards of equalization if the taxpayer, before the delinquency date, pays the undisputed portion or pays the full tax due. (2) For purposes of this subsection (b), "undisputed portion" means the amount the taxpayer would owe based on the taxpayer's good faith claim for relief. (3) If the full tax due is paid, the city or county collecting official may decline to accept the disputed portion of tax. (4) Delinquency penalty and interest postponed under this subsection (b) begins to accrue thirty (30) days after issuance of the final assessment certificate of the state board of equalization and until the tax is paid. (5) On motion of the city or county to whom tax is owed, the state board of equalization shall 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. (c) 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. (d) (1) Any tax found refundable 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. (2) Sixty (60) days after issuance of the final assessment certificate of the state board of equalization, the interest rate on a deferred refund shall increase two (2) points until the refund is finally paid. (3) For purposes of this subsection (d), "deferred refund" means the amount owed to the taxpayer, excluding any penalties and interest.

Legislative History

Amended by 2023 Tenn. Acts, ch. 184, s 12, eff. 7/1/2023. Amended by 2023 Tenn. Acts, ch. 184, s 11, eff. 7/1/2023. Amended by 2020 Tenn. Acts, ch. 521, Secs.s 3, s 4 eff. 3/6/2020. Amended by 2014 Tenn. Acts, ch. 691, Secs.s 3, s 4 eff. 4/15/2014. Acts 1973, ch. 226, § 10; 1974, ch. 771, § 11; 1975, ch. 171, § 10; Acts 1980, ch. 533, §§ 1-5; T.C.A., § 67-841; Acts 1986, ch. 627, § 1; 1988, ch. 795, § 19; 1989, ch. 291, § 3; 1989, ch. 550, §§ 3, 22; 1990, ch. 1045, §§ 1, 2, 4; 1993, ch. 315, § 11; 1996, ch. 787, §§ 2, 9, 10; 1997 , ch. 197, § 1; 2003 , ch. 385, § 1; 2007 , ch. 332, § 1; 2008 , ch. 680, § 2; 2011 , ch. 32, § 2; 2011 , ch. 77, § 1.