Tennessee § 7-32-116 Limitation on aggregate amount of assessment

Tennessee Statutes

§ 7-32-116 — Limitation on aggregate amount of assessment

Tennessee § 7-32-116

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This text of Tennessee § 7-32-116 (Limitation on aggregate amount of assessment) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 7-32-116 (2026).

Text

(a)The aggregate amount of the levy or assessment made against any lot or parcel of land shall not exceed one-half (½) of the cash value of the lot and improvements on the lot.

(b)By cash value, it is the intent of this section to mean the fair sale price of the lot and improvements on the lot if sold at a voluntary sale.

(c)The city or town shall pay any part of the levy or assessment against any such lot or parcel of land as may be in excess of one-half (½) of the cash value of the lot or parcel of land.

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(a) The aggregate amount of the levy or assessment made against any lot or parcel of land shall not exceed one-half (½) of the cash value of the lot and improvements on the lot. (b) By cash value, it is the intent of this section to mean the fair sale price of the lot and improvements on the lot if sold at a voluntary sale. (c) The city or town shall pay any part of the levy or assessment against any such lot or parcel of land as may be in excess of one-half (½) of the cash value of the lot or parcel of land.