SB0757 - Tennessee: Taxes, Ad Valorem

Companion Bill HB1578. Taxes, Ad Valorem - Permits county or municipality to adjust certified tax calculation by up to 3 percent to account for a projected increase in the cost of services funded by property tax since the previous year; provided, that the adjustment is made by a method approved by the state board of equalization. - Amends TCA Title 67, Chapter 5, Part 17. Fiscal Summary for *SB0757 / HB1578 Increase Local Govt. Expenditures - Not Significant Increase Local Govt. Revenues - $8,400,000 Bill Summary for *SB0757 / HB1578 Present law provides that upon a general reappraisal of property as determined by the state board of equalization, the county assessor of property must certify to the governing bodies of the county and of each municipality within the county the total assessed value of taxable property within the jurisdiction of [...]

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