Tennessee § 67-1-301 - Meetings — Notice.

§ 67-1-301. Meetings — Notice.

The state board of equalization shall meet in Nashville annually on the second Monday in August to set dates and places for its hearings of appeals from actions of local boards of equalization, and to consider such other matters as may come before the board. A majority of the board shall constitute a quorum for the transaction of business. It is the duty of the board to sit for a portion of its allotted time in the western division of the state and in the eastern division of the state, in addition to its sessions at Nashville, the time and place of the sessions to be held at other points than Nashville to be designated by the board, and publication of such time and place or times and places to be made through the press. Taxpayers and property owners, without further notice than this section and due publication of the times and places of the meetings of the board as required by this section, are charged with notice of the sessions. Such sessions shall continue from time to time and day to day until the equalization of all assessments is completed. In addition to the annual meeting required in subsection (a), the board shall meet at other times and places as the board may find necessary to carry out its duties and responsibilities. Such meetings may be held upon the call of the chair or vice chair when the public business so requires. A majority of the board shall constitute a quorum for the transaction of business. Acts 1973, ch. 226, § 2; T.C.A., § 67-201. Cross-References. Assessment review by state board of equalization, title 67, ch. 5, part 15. Textbooks. Tennessee Jurisprudence, 23 Tenn. Juris., Taxation, § 38. Attorney General Opinions. Determining the value of real property by using the income approach is a commonly-used, appropriate method for valuing income-producing property for purposes of ad valorem taxation. The use of this approach does not result in the assessment of an income tax. Use of the income approach to value mineral interests likewise does not result in the assessment of an unauthorized severance tax. OAG 14-103, 2014 Tenn. AG LEXIS 106 (12/2/14).