Tennessee § 67-5-2010 - Interest — Delinquent taxes.

§ 67-5-2010. Interest — Delinquent taxes.

To the amount of tax due and payable, interest of one and one-half percent (1.5%) shall be added on March 1, following the tax due date and on the first day of each succeeding month, except as otherwise provided in regard to municipal taxes. Any county having a population in excess of seven hundred thousand (700,000), according to the 1980 federal census or any subsequent federal census establishing tax due dates other than the first Monday in October in each year, in accordance with § 67-1-701(a), shall have the authority to establish the date that interest shall begin to accrue as the date of delinquency in lieu of March 1. The rate of interest as provided in this section may be reduced to an amount of not less than twelve percent (12%) per annum in the aggregate, upon approval by a two-thirds (2/3) vote of the appropriate local governing body that levied such taxes, in any county having a population of not less than twenty-four thousand six hundred (24,600) nor more than twenty-four thousand seven hundred (24,700), according to the 1980 federal census or any subsequent federal census. In all instances in which current municipal taxes are collected by the county trustee, the following provisions and rules for the collection of delinquent taxes that may be due to the municipalities and none other shall prevail and obtain, anything in this chapter to the contrary notwithstanding: The taxes levied and assessed by such municipalities shall become due and delinquent on the date as now provided by existing laws; and If such municipal taxes are not paid on or before the date fixed for the delinquencies thereof, to the amount of tax due and payable, interest of one and one-half percent (1.5%) shall be added on March 1, following the tax due date and on the first day of each succeeding month. Acts 1988, ch. 526, § 6; 2013, ch. 370, § 1; 2014, ch. 883, § 4; 2017, ch. 299, § 4. Compiler's Notes. For tables of U.S. decennial populations of Tennessee counties, see Volume 13 and its supplement. Acts 2013, ch. 370, § 2 provided that if any provision of the act or the application thereof to any person or circumstance is held invalid, then all provisions and applications of this act are declared to be invalid and void. Acts 2013, ch. 370, § 3 provided that the act, which added former subsection (c), ceased to be effective on January 1, 2014. See the amendment notes. Attorney General Opinions. Constitutionality of reducing interest and penalty charges on delinquent taxes for low-income elderly property owners, OAG 96-044 (3/13/96).