Tennessee § 67-5-1301 - Assessment by comptroller of the treasury.

§ 67-5-1301. Assessment by comptroller of the treasury.

The comptroller of the treasury is authorized and directed to assess for taxation, for state, county, and municipal purposes, all of the properties of every description, tangible and intangible, within the state, owned by and all personal property used and/or leased by the following named persons hereinafter referred to as companies, namely: Railroad companies; Telephone, radio common carrier, cellular or wireless telecommunications and telecommunications tower companies; Freight and private car companies, hereby defined as any company, other than a railroad company, which owns, uses, furnishes, leases, rents, or operates to, from, through, in or across this state or any part thereof, any kind of railroad car including, but not necessarily limited to, flat, tank, refrigerator or similar type car; Streetcar companies; Power companies, whether hydroelectric, steam, atomic, or other kinds for the transmission of power; Express companies; Pipeline companies; Gas companies; Electric light companies; Water and/or sewerage companies; Motor bus and/or truck companies, excluding towing companies, operating commercial motor vehicles exclusively authorized for hire holding United States department of transportation registrations issued by this state through the performance and registration information systems management (PRISM) or the federal motor carrier safety administration (FMCSA) and domiciled in this state and/or owning or leasing real or personal property, including those owner operators who operate under such motor bus and/or truck company's motor carrier authority, located in this state; Commercial air carrier companies holding a certificate of convenience and necessity from the department of transportation, civil aeronautics board, federal aviation administration or any other federal or state regulatory agency excepting those companies whose operations are solely chartered operations; Water transportation carrier companies which operate boats and barges over the waterways of this state for hire, which are registered with the United States army corps of engineers or any other federal or state agency and/or domiciled in this state and/or owning or leasing real or personal property located in this state; and Modern market telecommunications providers. The comptroller of the treasury shall assess all of such property annually as of the same date as other properties are assessed by law; provided, that this part shall not apply to corporations organized under the laws of Tennessee whose principal business is the manufacture of products of the soil of Tennessee and who for the transportation alone of such products furnish their own cars. Provisions generally applicable to post-certification revision of local assessments shall also apply to public utility property, including, without limitation, back assessment or reassessment under chapter 1, part 10 of this title, correction of assessment errors under § 67-5-509, proration of assessments under § 67-5-603, and relief from forced assessments and amendment of taxpayer filed schedules under § 67-5-903. Provisions for confidentiality of taxpayer information under § 67-5-402 shall likewise be applicable to information provided by public utility taxpayers. For purposes of applying these provisions to public utility property, the comptroller of the treasury shall act as assessing authority, and the actions of the comptroller of the treasury shall be subject to review directly by the state board of equalization. Acts 1973, ch. 226, § 11; 1974, ch. 467, § 4; T.C.A., § 67-901; Acts 1984, ch. 832, § 7; 1995, ch. 305, § 125; 1996, ch. 662, § 1; 1998, ch. 911, § 1; 2000, ch. 571, § 3; 2000, ch. 649, § 2; 2006, ch. 672, § 1; 2007, ch. 132, § 5; 2010, ch. 942, § 1; 2010, ch. 1036, § 1; 2017, ch. 490, § 4. Compiler's Notes. Acts 1995, ch. 305, § 32 provided that, nothwithstanding the provisions of title 65, chapter 15 to the contrary, vehicles required to obtain a certificate of convenience and necessity or contract hauler permit pursuant to the provisions of § 65-15-107(f) [deleted], shall be regulated by the Tennessee regulatory authority. The Tennessee regulatory authority shall register all such vehicles operating in intrastate and interstate commerce in Tennessee solely for demonstration of compliance with registration and insurance requirements of § 65-15-109 . Acts 1995, ch. 305, § 47 provided: “(a) Notwithstanding any provision of law to the contrary, upon the effective date of this section [May 26, 1995], all employees of the public service commission charged with the responsibility of regulating and enforcing the provisions of Tennessee Code Annotated, Title 67, assigned by provisions of this act to the office of the comptroller and any other employees of the public service commission necessary to assist in such regulating and enforcing, shall be transferred to the comptroller of the treasury. “(b) All reports, documents, surveys, books, records, papers or other writings in the possession of the public service commission with respect to administering such provisions assigned to the office of the comptroller of the treasury by this act, shall be transferred to and remain in the custody of the comptroller. “(c) All leases, contracts and all contract rights, and responsibilities in existence with the public service commission with respect to the duties transferred by this section shall be preserved and transferred to the office of the comptroller of the treasury. “(d) All assets, liabilities and obligations of the public service commission with respect to the duties transferred by this section shall become the assets, liabilities and obligations of the office of the comptroller of the treasury. “(e) Any revenues from rates, fares, charges, fines, and other moneys received pursuant to Tennessee Code Annotated, Title 65, and assigned to the office of the comptroller by this act shall be allocated to the office of the comptroller of the treasury to implement the provisions of this act. “(f) The comptroller shall promulgate rules and regulations pursuant to Title 4, Chapter 5, to effectuate the purposes of this act.” Acts 1996, ch. 662, § 4 provided that the amendments by that act apply to assessments for the 1996 tax year. Acts 2000, ch. 649, § 5, provided that the act shall apply to the 2000 tax year. A taxpayer subject to assessment by the comptroller of the treasury under § 67-5-513 , § 67-5-903(f) , § 67-5-1301(a)(2) , or § 67-5-1310 for the first time for tax year 2000 shall be afforded up to sixty (60) days, from the date the taxpayer is supplied a report form, to file any ad valorem report otherwise required by § 67-5-1303 for tax year 2000. Acts 2010, ch. 1036, § 5, provided that the act, which rewrote subsection (c), shall apply to exemption applications filed after June 11, 2010, and also to applications pending or under appeal before the state board of equalization, as of June 11, 2010. Acts 2017, ch. 490, § 15 provided that the act, which amended this section, shall apply to all tax periods beginning on or after January 1, 2017. Cross-References. Confidentiality of public records, § 10-7-504 . Law Reviews. Discriminatory Demands and Divided Decisions: State and Local Taxation of Rail, Motor, and Air Carrier Property (Scott M. Schoenwald), 39 Vand. L. Rev. 1107 (1986). Attorney General Opinions. Lack of county authority to assess and audit properties of centrally-assessed taxpayers, OAG 05-092 (6/8/05). After Public Chapter 490 becomes effective, the Comptroller of the Treasury will continue to be responsible for reappraising the properties of modern market telecommunications providers. The reappraisal schedule for the telecommunications providers’ properties will remain the same. Their localized and nonoperating real property will be updated in each county during that county’s reappraisal year. Their operating properties will be assessed and updated annually. AG LEXIS 34 (7/26/2017).