Top Legislation - View All
Latest Action: 05/23/2007 - Companion became Public Chapter 179 Bill TextCompanion Bill SB1109. Assessors - Allows assessor to correct forced assessment of tangible personal property if it is determined that the taxpayer was not in business as of the assessment date and did not own or lease tangible personal property used or held for use in business as of the assessment date. - Amends TCA Section 67-5-903. Fiscal Summary for HB1760 / *SB1109 Decrease Local Govt. Revenues - Less than $50,000 Bill Summary for HB1760 / *SB1109 ON APRIL 5, 2007, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 1109, AS AMENDED. AMENDMENT #1 adds requirement that the taxpayer did not own or lease tangible personal property used or held for use in business as of the assessment date for the year in issue in order for the assessor to be authorized to correct a forced assessment of tangible personal property.
Latest Action: 05/23/2007 - Public Chapter 179 Bill TextCompanion Bill HB1760. Assessors - Allows assessor to correct forced assessment of tangible personal property if it is determined that the taxpayer was not in business as of the assessment date and did not own or lease tangible personal property used or held for use in business as of the assessment date. - Amends TCA Section 67-5-903. Fiscal Summary for *SB1109 / HB1760 Decrease Local Govt. Revenues - Less than $50,000 Bill Summary for *SB1109 / HB1760 ON APRIL 5, 2007, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 1109, AS AMENDED. AMENDMENT #1 adds requirement that the taxpayer did not own or lease tangible personal property used or held for use in business as of the assessment date for the year in issue in order for the assessor to be authorized to correct a forced assessment of tangible personal property.
Latest Action: 06/06/2007 - Companion became Public Chapter 292 Bill TextCompanion Bill SB1810. Taxes - Requires tax assessor to review and accept or reject a taxpayer's amended personal property schedule within 60 days of receipt; such a schedule is deemed not accepted if the assessor has not notified the taxpayer within the 60-day period; clarifies the method of determining which religious institutions are eligible to claim a religious use property tax exemption. - Amends TCA Title 67. Fiscal Summary for HB1533 / *SB1810 Increase Local Govt. Expenditures - Not Significant Bill Summary for HB1533 / *SB1810 ON MAY 10, 2007, THE SENATE ADOPTED AMENDMENTS #2 AND #3 AND PASSED SENATE BILL 1810, AS AMENDED. AMENDMENT #2 adds that the taxpayer's amended schedule will be deemed not accepted by the assessor if the assessor does not notify the taxpayer that the schedule has been accepted or rejected within 60 days.[...] show full description
Latest Action: 06/06/2007 - Public Chapter 292 Bill TextCompanion Bill HB1533. Taxes - Requires tax assessor to review and accept or reject a taxpayer's amended personal property schedule within 60 days of receipt; such a schedule is deemed not accepted if the assessor has not notified the taxpayer within the 60-day period; clarifies the method of determining which religious institutions are eligible to claim a religious use property tax exemption. - Amends TCA Title 67. Fiscal Summary for *SB1810 / HB1533 Increase Local Govt. Expenditures - Not Significant Bill Summary for *SB1810 / HB1533 ON MAY 10, 2007, THE SENATE ADOPTED AMENDMENTS #2 AND #3 AND PASSED SENATE BILL 1810, AS AMENDED. AMENDMENT #2 adds that the taxpayer's amended schedule will be deemed not accepted by the assessor if the assessor does not notify the taxpayer that the schedule has been accepted or rejected within 60 days.[...] show full description
Latest Action: 06/26/2007 - Public Chapter 449 Bill TextCompanion Bill SB1300. Taxes, Ad Valorem - Imposes additional reporting requirements on lessees of industrial development corporations concerning payments in lieu of taxes; requires lessees of public building authorities, sports authorities, enterprise zone development corporations, tax increment financing projects, and city and county property to make same reports to the state board of equalization. - Amends TCA Title 7, Chapters 53 through 67; Title 13, Chapters 20 through 23 and Title 67, Chapter 5. Fiscal Summary for *HB0930 / SB1300 Increase State Expenditures - Exceeds $170,000 Increase Local Govt. Expenditures - Not Significant Bill Summary for *HB0930 / SB1300 Present law requires industrial development corporation lessees to submit an annual report to the state board of equalization by October 1 of each year. This report must contain [...] show full description
Latest Action: 06/26/2007 - Companion became Public Chapter 449 Bill TextCompanion Bill HB0930. Taxes, Ad Valorem - Imposes additional reporting requirements on lessees of industrial development corporations concerning payments in lieu of taxes; requires lessees of public building authorities, sports authorities, enterprise zone development corporations, tax increment financing projects, and city and county property to make same reports to the state board of equalization. - Amends TCA Title 7, Chapters 53 through 67; Title 13, Chapters 20 through 23 and Title 67, Chapter 5. Fiscal Summary for SB1300 / *HB0930 Increase State Expenditures - Exceeds $170,000 Increase Local Govt. Expenditures - Not Significant Bill Summary for SB1300 / *HB0930 Present law requires industrial development corporation lessees to submit an annual report to the state board of equalization by October 1 of each year. This report must contain [...] show full description
Latest Action: 05/03/2007 - Public Chapter 66 Bill TextTaxes, Exemption and Credits - Specifies that the local approval required by a county in order for property owned by a nonprofit community and performing arts organization to be eligible for a property tax exemption as a charitable or educational use of property must be approval by a two-thirds vote. - Amends TCA Title 67, Chapter 5, Part 10. Fiscal Summary for *HB1461 / SB2067 MINIMAL
Latest Action: 05/03/2007 - Companion became Public Chapter 66 Bill TextTaxes, Exemption and Credits - Specifies that the local approval required by a county in order for property owned by a nonprofit community and performing arts organization to be eligible for a property tax exemption as a charitable or educational use of property must be approval by a two-thirds vote. - Amends TCA Title 67, Chapter 5, Part 10. Fiscal Summary for SB2067 / *HB1461 MINIMAL
Latest Action: 02/26/2007 - Assigned to Subcommittee Local Government of S&LG Bill TextTaxes, Personal Property - Clarifies that the provision for delinquent personal property taxes being immediately collected by distraint (distress warrant) is mandatory not discretionary; adds that the collection of delinquent taxes must be commenced within 30 days of the taxes becoming delinquent. - Amends TCA Title 67, Chapter 5. Fiscal Summary for *HB1463 / SB2052 Increase Local Govt. Revenues - Not Significant
Latest Action: 04/27/2007 - Companion became Public Chapter 38 Bill TextTaxes, Personal Property - Allows taxpayer to return schedule of tangible personal property used in the taxpayer's business or profession to assessor on March 1 each year. - Amends TCA Section 67-5-903. Fiscal Summary for HB1762 / *SB1108 MINIMAL
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Latest Legislation - View All
Latest Action: 02/13/2008 - Assigned to Subcommittee Local Government of S&LG Bill TextCompanion Bill SB3630. Taxes, Personal Property - Revises manner forced assessment is determined and limits remedies for taxpayers who fail, refuse, or neglect to complete, sign, and timely file a personal property schedule with the assessor of property. - Amends TCA Title 67. Fiscal Summary for HB3953 / *SB3630 Increase State Expenditures - Not Significant Increase Local Expenditures - $116,500/Permissive Bill Summary for HB3953 / *SB3630 Under present law, it is a Class A misdemeanor for a taxpayer to fail, refuse, or neglect to complete, sign, and file a schedule of tangible property with the assessor of property by the specified deadline. The offense is punishable by a fine of not less than $50.00 nor more than $500. In such cases, the assessor will assess the tangible personal property of the taxpayer that is used, or held for [...] show full description
Latest Action: 06/20/2008 - Public Chapter 1104 Bill TextCompanion Bill HB3727. Taxes - Revises various provisions governing real and personal property tax exemptions such as provision for exemption for church parsonage and provision governing exemptions for federally assisted housing. - Amends TCA Title 67, Chapter 5, Part 2. Fiscal Summary for SB3944 / *HB3727 Increase Local Revenue - $366,000 Bill Summary for SB3944 / *HB3727 This bill revises various provisions governing property tax, as follows: (1) Present law exempts from property tax the property of not-for-profit organizations funded under the federal HOME Investment Partnerships Program or funded as a special needs project under the state HOUSE program and used as permanent housing for low income and very low income persons with "permanent conditions" within the meaning of the HOUSE program. This bill revises this exemption to [...] show full description
Latest Action: 06/11/2008 - Companion became Public Chapter 1069 Bill TextCompanion Bill SB3108. Taxes, Personal Property - Provides that taxpayer who fails or refuses to sign reporting schedule regarding certain intangible personal property with assessor of property is deemed to have waived objections to the forced assessment. - Amends TCA Section 67-5-1206 and Section 67-5-1105. Fiscal Summary for HB3788 / *SB3108 Increase State Expenditures - Not Significant Increase Local Expenditures - Not Significant Bill Summary for HB3788 / *SB3108 PRESENT LAW Present law governing property taxation and stock requires companies to provide to the assessor an assessment schedule, in writing, to be filed with the county clerk for preservation. Similarly, in regard to property taxation of insurance companies, present law requires such companies to provide to the assessor of the county in which the principal [...] show full description
Latest Action: 06/20/2008 - Companion became Public Chapter 1104 Bill TextCompanion Bill SB3944. Taxes - Revises various provisions governing real and personal property tax exemptions such as provision for exemption for church parsonage and provision governing exemptions for federally assisted housing. - Amends TCA Title 67, Chapter 5, Part 2. Fiscal Summary for *HB3727 / SB3944 Increase Local Revenue - $366,000 Bill Summary for *HB3727 / SB3944 This bill revises various provisions governing property tax, as follows: (1) Present law exempts from property tax the property of not-for-profit organizations funded under the federal HOME Investment Partnerships Program or funded as a special needs project under the state HOUSE program and used as permanent housing for low income and very low income persons with "permanent conditions" within the meaning of the HOUSE program. This bill revises this exemption to [...] show full description
Latest Action: 02/14/2008 - Withdrawn. Bill TextTaxes, Personal Property - Removes the present method of applying the sales appraisal ratio in the valuation and assessment of a taxpayer's personal property tax if a taxpayer fails to file a personal property schedule after March 1. - Amends TCA Title 67. Fiscal Summary for *HB3129 / SB3745 Increase Local Revenue - $1,928,200
Latest Action: 03/11/2008 - Assigned to Gen. Sub of: Senate Tax Sub Committee of F,W&M. Bill TextCompanion Bill HB3953. Taxes, Personal Property - Revises manner forced assessment is determined and limits remedies for taxpayers who fail, refuse, or neglect to complete, sign, and timely file a personal property schedule with the assessor of property. - Amends TCA Title 67. Fiscal Summary for *SB3630 / HB3953 Increase State Expenditures - Not Significant Increase Local Expenditures - $116,500/Permissive Bill Summary for *SB3630 / HB3953 Under present law, it is a Class A misdemeanor for a taxpayer to fail, refuse, or neglect to complete, sign, and file a schedule of tangible property with the assessor of property by the specified deadline. The offense is punishable by a fine of not less than $50.00 nor more than $500. In such cases, the assessor will assess the tangible personal property of the taxpayer that is used, or held for [...] show full description
Latest Action: 03/11/2008 - Assigned to Gen. Sub of: Senate Tax Sub Committee of F,W&M. Bill TextTaxes, Personal Property - Removes the present method of applying the sales appraisal ratio in the valuation and assessment of a taxpayer's personal property tax if a taxpayer fails to file a personal property schedule after March 1. - Amends TCA Title 67. Fiscal Summary for SB3745 / *HB3129 Increase Local Revenue - $1,928,200
Latest Action: 06/11/2008 - Public Chapter 1069 Bill TextCompanion Bill HB3788. Taxes, Personal Property - Provides that taxpayer who fails or refuses to sign reporting schedule regarding certain intangible personal property with assessor of property is deemed to have waived objections to the forced assessment. - Amends TCA Section 67-5-1206 and Section 67-5-1105. Fiscal Summary for *SB3108 / HB3788 Increase State Expenditures - Not Significant Increase Local Expenditures - Not Significant Bill Summary for *SB3108 / HB3788 PRESENT LAW Present law governing property taxation and stock requires companies to provide to the assessor an assessment schedule, in writing, to be filed with the county clerk for preservation. Similarly, in regard to property taxation of insurance companies, present law requires such companies to provide to the assessor of the county in which the principal [...] show full description
Latest Action: 05/03/2007 - Companion became Public Chapter 66 Bill TextTaxes, Exemption and Credits - Specifies that the local approval required by a county in order for property owned by a nonprofit community and performing arts organization to be eligible for a property tax exemption as a charitable or educational use of property must be approval by a two-thirds vote. - Amends TCA Title 67, Chapter 5, Part 10. Fiscal Summary for SB2067 / *HB1461 MINIMAL
Latest Action: 04/10/2007 - Assigned to Gen. Sub of: Senate S&L Govt. Comm. Bill TextTaxes, Personal Property - Clarifies that the provision for delinquent personal property taxes being immediately collected by distraint (distress warrant) is mandatory not discretionary; adds that the collection of delinquent taxes must be commenced within 30 days of the taxes becoming delinquent. - Amends TCA Title 67, Chapter 5. Fiscal Summary for SB2052 / *HB1463 Increase Local Govt. Revenues - Not Significant
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