(a) The officials vested with the power to make back assessments or reassess have full authority, in a proceeding to back assess or reassess such property, to make proper, correct, and adequate assessment of the property at its actual cash value, which, when entered upon the tax book or filed in writing with the authorized tax collecting authority, shall become a final and valid assessment of the property and collectible as such as fully and amply as if originally entered upon the assessment roll.

Terms Used In Tennessee Code 67-1-1007

  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Reassessment: means the assessment of property that has been assessed at less than its actual cash value by reason of connivance, fraud, deception, misrepresentation, misstatement, or omission of the property owner or the owner's agent. See Tennessee Code 67-1-1001
  • Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105
(b) The assessment, when made by the official authorized to make the assessment, shall have the force and effect of a judgment against the person liable for the taxes for the year for which the reassessment is made.
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