[Not applicable to decedents who die in 2016 or after, see section 67-8-425.]

(a) Upon receipt of such return from the executor, administrator or trustee, the commissioner shall proceed to make an appraisal of the various items of the gross estate and to investigate deductions claimed by such representative of the estate.

Terms Used In Tennessee Code 67-8-411

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appraisal: A determination of property value.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. 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
  • Trustee: A person or institution holding and administering property in trust.
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(b) In making the appraisal, the commissioner shall direct the commissioner’s deputies, agents or assistants to investigate the valuation placed upon each item of the estate, with a view to determining its fullness and fairness, and, in the absence of written objection upon the part of the representative of the estate, the commissioner’s appraisal shall be final and binding upon the estate; provided, that such representative shall have the right to file with the state board of equalization, within ninety (90) days from the date of such appraisal, an appeal from the appraisal. A copy of the appeal shall be filed with the commissioner, who shall file with the state board of equalization the commissioner’s findings concerning the appraisal. The board shall have authority to consider the exceptions filed, hear proof and determine the valuation in dispute, and the findings, by a majority vote, of the board shall be conclusive as to all parties in interest, subject only to the constitutional right of review in the courts.
(c) The procedure established by this section for review of the appraisal of the commissioner by the state board of equalization shall apply only if the issue of valuation of the various items of the gross estate is the only objection to be raised to the assessment. If this procedure for review is selected by the representative of the estate, no challenge to any legal issues that might be raised concerning the inheritance tax assessment shall be entertained in any court or forum. In all cases in which the representative of the estate seeks to challenge an assessment under this section on any ground other than valuation, the entire proceeding, including issues of valuation, must be brought in accordance with § 67-1-1801 or § 67-1-1802.
(d) In order for any person who seeks review of an appraisal by the state board of equalization to obtain a stay of proceedings or action for the collection of the assessed tax, the person must file a complaint, with a copy of the petition for review by the state board of equalization attached, in chancery court seeking a stay until final determination of the review by the board of equalization, and must do those things necessary to obtain a stay under § 67-1-1801.
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