Tenn. Comp. R. & Regs. 0600-13-.08

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Current through December 10, 2024

Section 0600-13-.08 - DETERMINING PRECEDING YEAR TAX LEVY

(1) Determining the preceding year tax levy comprises the following components:

1) Total preceding year tax base; and

2) Preceding year tax rate.

(2) EXAMPLE OF DETERMINING PRECEDING YEAR TAX LEVY:

EXAMPLE

A Jurisdiction's preceding year total tax base is $4,561,666,107 (Jurisdiction's preceding year State Board of Equalization certified total centrally assessed property + Jurisdiction's preceding year total locally assessed property) and the jurisdiction's preceding year tax rate is $2.50 for every $100 in value. The following is an example of the calculation:

$4,561,666,107/100*2.50 = $114,041,653 (Preceding Year Tax Levy)

Tenn. Comp. R. & Regs. 0600-13-.08

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

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