House Bill 733 amends Tennessee property tax appeal procedures by revising specific sections of the Tennessee Code Annotated. Notably, it allows taxpayers or property owners to appeal the valuation of industrial and commercial real and tangible personal property either to the local board of equalization or directly to the state board of equalization, with a direct appeal needing to be filed by August 1 of the tax year. Additionally, the bill modifies the process for handling disputed tax portions, requiring city or county collecting officials to provide written notice to taxpayers if they decline to accept the disputed amount, and stipulating that such disputed amounts are not considered delinquent while an appeal is pending.

Furthermore, the bill specifies that if a collecting official declines the disputed tax portion, interest will not accrue on that amount until 30 days after the final assessment certificate is issued by the state board of equalization, and until the undisputed portion is paid. These changes aim to streamline the appeal process and provide clearer guidelines for both taxpayers and collecting officials regarding disputed tax payments.

Statutes affected:
Introduced: 67-5-1412(b)(2), 67-5-1412, 67-5-1512(b)(3), 67-5-1512, 67-5-1512(c)