House Bill 699 amends Tennessee Code Annotated, Section 67-5-509(d), regarding the correction of property tax assessments. The bill changes the timeframe in which taxpayers or assessors can request corrections. Specifically, it replaces the existing requirement that corrections must be requested prior to March 1, no more than the second year following the tax year, with a new provision allowing requests to be made up to ten years after the tax year in question.

This change aims to provide taxpayers with a longer period to address any discrepancies in their property tax assessments, thereby enhancing fairness and accuracy in the assessment process. The act will take effect upon becoming law and will apply to assessments for the 2016 tax year and subsequent years.

Statutes affected:
Introduced: 67-5-509(d), 67-5-509