Tennessee § 67-5-504 - Assessment date.

§ 67-5-504. Assessment date.

All assessments of real property and of personal property shall be made annually and as of January 1 for the year to which the assessment applies, unless otherwise provided for, except that whenever under any plan or program of consolidation of governmental functions of county offices with comparable facilities under any municipal charter, in any county having a population in excess of seven hundred thousand (700,000), according to the 1980 federal census or any subsequent federal census, it is expedient to fix different assessment dates than those established herein, in order to avoid the destruction of existing municipal fiscal policies, the county assessor in such county may establish assessment activity dates other than those set forth in this title, if approved by ordinance or resolution of the local governing body. Not later than May 20 of each year, the assessment of all property in the county shall be made by the assessor of property; provided, that the assessment of all property within any municipality shall be completed by the assessor of property not less than forty (40) days prior to the beginning tax due date of the municipality. Any annexing municipality that makes assessments of taxes shall only assess the tax on real property within the annexed territory if the annexation takes effect prior to January 1 of the year in which the assessment is made. Acts 1973, ch. 226, § 6; 1983, ch. 430, § 3; T.C.A., §§ 67-603, 67-604; Acts 2013, ch. 462, § 2. Compiler's Notes. For tables of U.S. decennial populations of Tennessee counties, see Volume 13 and its supplement. Acts 2013, ch. 462, § 5 provided that § 2 of the act, which added subsection (c), shall apply to assessments made on or after January 1, 2012. Textbooks. Tennessee Jurisprudence, 23 Tenn. Juris., Taxation, § 30. Attorney General Opinions. Eligibility to levy and collect property tax, OAG 99-089 (4/8/99). There is no legal authority for prorating property tax rates to coincide with county's fiscal year beginning July 1, OAG 05-047 (4/18/05).