Tenn. Comp. R. & Regs. 0600-13-.06

Current through December 18, 2024

Section 0600-13-.06 - DETERMINING ESTIMATED CENTRALLY ASSESSED PROPERTY

(1) Determining the estimated centrally assessed property includes the following two (2) components:

1) Preceding year State Board of Equalization certified assessment of centrally assessed property for the jurisdiction; and

2) Preceding year approved appraisal ratio.

(2) EXAMPLE OF DETERMINING ESTIMATED CENTRALLY ASSESSED PROPERTY:

EXAMPLE

This example assumes that the public utility assessment certified by the State Board of Equalization for the preceding year is $11,369,770 and the preceding year's approved appraisal ratio is .7912. The following is an example of the calculation:

$11,369,770/.7912 = $14,370,285 ($14,370,285 = estimated centrally assessed property)

Tenn. Comp. R. & Regs. 0600-13-.06

Original rules filed April 1, 2020; effective 6/30/2020.

Authority: T.C.A. §§ 4-3-5103, 67-1-305, and 67-5-1601.