Tennessee Code 67-5-1809 – Refund of property taxes after final action
Terms Used In Tennessee Code 67-5-1809
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
- Taxpayer: means any owner of property subject to taxation or any party liable for property taxes. See Tennessee Code 67-5-105
- Trustee: A person or institution holding and administering property in trust.
- Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
When a county has been ordered to make a refund of property taxes pursuant to final action of a court or the state board of equalization, a specific appropriation is not required to authorize the county trustee to make the refund. The trustee may make the ordered refund and any interest owing the taxpayer as otherwise provided from any taxes collected for the year or years to which the refund relates prior to the allocation to the various county funds. If the trustee does not have funds collected from the year to which the refund relates, the trustee may make the refund and pay any interest owing the taxpayer from current collections prior to the allocation of revenue to the various county funds. Where a refund plus accrued interest exceeds one percent (1%) of all property taxes levied for the year in which the refund is due, the trustee may defer the refund for a period of up to three (3) years in equal annual installments, and the deferred amounts must accrue interest in the manner otherwise provided by law.