Tennessee § 7-84-403 - Maximum assessment — Payments by municipality.
Full text of Tennessee Tennessee Code Annotated § 7-84-403 — Maximum assessment — Payments by municipality., with citation guidance and answers to common questions.
§ 7-84-403. Maximum assessment — Payments by municipality.
Except as provided in subsection (b), the aggregate amount of the levy or assessment made against any lot or parcel of land shall not exceed fifteen percent (15%) of the assessed value of the lot and improvement on the lot. The municipality shall pay any part of the levy or assessment against any such lot or parcel of land as may be in excess of fifteen percent (15%) of the assessed value. In any tourist resort county, as defined in § 42-1-301, the aggregate amount of the levy or assessment made against a lot or parcel of land shall not exceed the cost of the improvements that are apportioned pursuant to § 7-84-404 to that lot or parcel. Acts 1971, ch. 268, § 17; T.C.A., § 6-3917; Acts 2007, ch. 494, § 11. Compiler's Notes. Acts 2007, ch. 494, § 14 provided that the act shall apply to central business improvement districts already in existence and any districts that hereinafter may be created.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 7-84-403
What does Tennessee Code Annotated § 7-84-403 cover?
Section 7-84-403 ("Maximum assessment — Payments by municipality.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 7-84-403?
A common citation format is "Tennessee Code Annotated § 7-84-403" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 7-84-403 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.