Recent Property Tax Legislation
 2007-08 Legislature
Amended Personal Property Schedule - Chapter 292 - The new law provides that if the Assessor fails to notify taxpayer within sixty (60) days of the taxpayer filing an amended tangible personal property schedule, then the amended scheduled is presumed refused by the assessor. The taxpayer has the right to appeal, to the State Board of Equalization, the assessor's refusal within forty five (45) days from the end of the sixty (60) day period. Prior to passage, the Assessor did not have to act on amended schedule filings and therefore, the refusal to act could not be appealed by taxpayer. Effectively, the taxpayer could not file an amended schedule. This bill had a foreign amendment added regarding another subject. Must Pay Taxes Before Hearing - Chapter 332 - Provides that the undisputed portion of property taxes must be paid prior to hearing date or the appeal shall be dismissed. The dismissal portion may not apply to Shelby County. Please check with the State Board of Equalization for interpretation. Changes Requirements for Amended Schedule - Chapter 037 - Provides that a taxpayer may amend a tangible personal property schedule only if the original was timely filed (on or before March 1) with the Assessor. Prior to this new law, taxpayers could file late schedules with the boards of equalization and these schedules could be amended.
State Board Hearing Fees - Chapter 256 - Basic provision of the bill requires a $10 hearing fee if an appeal is settled. Previously, hearing fees were waived if an appeal was settled. Other provisions provide punitive measures for taxpayers scheduling hearings and failing to show or have late withdrawals. Senior Citizen Tax Freeze - Chapter 581 - Provides that counties may elect to freeze property taxes on qualified senior citizens. The bill limits qualifying income by the income levels of each county and also limits the property size. Contact the County Trustee, who administers the program, for eligibility requirements.
2009-10 Legislature
Forced Assessment Relief: Any business taxpayer who fails to file a personal property schedule and has received a forced assessment may have an additional remedy to seek relief from the forced assessment. This new law allows the taxpayer until March 1 of the second year following the year of assessment to apply for a correction in the forced assessment. However the penalty for receiving any relief is 25% of the relief granted. If it is determined the taxpayer was out of business and did not own or lease personal property held for business, the assessor may eliminate any forced assessment made against such taxpayer. This bill gives more correction rights to a taxpayer who did not file at all for two years than to a taxpayer who filed one day late. (Senate: Ketron; House: Hackworth)
Division can Intervene in Tax Appeals: This new law permits the State Division of Property Assessment to intervene in contested cases between taxpayers and the assessors before the State Board of Equalization. It primarily will affect the 5 larges counties in the State where the Division has not been able to intervene in taxpayers appeals. This is very unfriendly taxpayer legislation and will override the assessors' rights to deal with local taxpayers. (Senate: Ketron; House: McCormick)
Foreclosure Sales: Permits assessors to recognize foreclosure home sales as evidence of value when they numerous in a neighborhood.
Special Interest- Prothetic Kits: Allows companies which make prothetics kits to claim kits and tools as merchandise inventory, and, therfore exempt from property taxation so long as business gross receipts tax is paid and kits are held no longer than 30 days by customers.
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