Tennessee Code Annotated
Tenn. Code Ann. § 67-5-1302 (2024)
Basis of value and level of assessment
✓ Justia copy: laws through about 2024 (2025 and 2026 sessions missing)
- (a)
- (1) The comptroller of the treasury shall, except as otherwise provided in this part, assess all operating property, real and personal, tangible and intangible, at fifty-five percent (55%) of its value. Such operating property which is used predominantly to provide cellular telephone service, radio common carrier service, or long distance telephone service, or which is used by a modern market telecommunications provider, shall be assessed at the rate applicable to commercial and industrial property of the same type. Property of water transportation carrier companies, or the portion thereof, which is used for water carriage which was exempt from regulation by the interstate commerce commission under federal law in effect on November 1, 1995, shall be assessed at the rate applicable to commercial and industrial property of the same type.
- (2) The value shall be determined by the unit rule of appraisal where applicable.
- (3) "Unit" means all operating property, tangible and intangible, owned and used and/or leased by the company as determined by the comptroller of the treasury.
- (4) "Unit rule of appraisal" means the appraisal of the property as a whole without geographical or functional division of the whole.
- (b)
- (1) The assessments of public utility property or property of modern market telecommunications providers, as set by the comptroller of the treasury in accordance with subsection (a), shall be adjusted, where necessary, on the basis of appropriate ratios, as are determined by the board of equalization for purposes of equalizing the values of such property to the prevailing level of value of property in each jurisdiction; provided, that no equalization factor for purposes of this section may exceed a factor of one (1.000).
- (2) In filing the assessments made by the comptroller of the treasury with the board of equalization as required in § 67-5-1327, the comptroller of the treasury shall set out the assessments as determined by the comptroller of the treasury in accordance with the constitutional level of assessments.
- (3) The comptroller of the treasury shall also furnish the board of equalization with the equalized assessments as soon as determined.
- (c)
- (1) The comptroller of the treasury shall assess all nonoperating property at its proper level according to the use and class of property into which it may fall.
- (2) Nonoperating property shall be appraised annually and valued as other locally assessed property.
- (3) "Nonoperating property" means that property not used in the operations of the company as determined by the comptroller of the treasury.
- (d)
- (1) The comptroller of the treasury shall recognize specific valuation for construction-in-process (CIP) tangible personal property in a manner consistent with that provided for locally assessed property under § 67-5-903(g)(1).
- (2) The state board of equalization is directed to prepare and adopt rules and regulations for the administration and taxation of CIP pursuant to this section and § 67-5-903, and communicate such rules and regulations to taxpayers to ensure accurate and timely compliance by taxpayers. No back assessments of CIP, as the term is used in § 67-5-903(g), shall occur prior to January 1, 1994. If back assessments have occurred involving CIP, those assessments shall be voided and all taxes paid shall be refunded to those taxpayers who have an action or claim pending before an assessing authority or court on the CIP issue.
Amended by 2017 Tenn. Acts, ch. 490,Secs.s5, s6 eff. 6/6/2017.
Amended by 2013 Tenn. Acts, ch. 209,s 11, eff. 4/23/2013.
Acts 1973, ch. 226, § 11; 1980, ch. 827, § 4; T.C.A., § 67-902; Acts 1989, ch. 312, § 4; 1993, ch. 323, §§ 2, 3; 1995, ch. 305, § 125; 1999, ch. 198, § 2.
Notes of Decisions
Cited in 12
cases (1 in the last 5 years), 1984–2021 · leading case: In re All Assessments, 67 S.W.3d 805 (Tenn. Ct. App. 2001).
In re All Assessments, 67 S.W.3d 805 (Tenn. Ct. App. 2001). “Alsup authorized equalization adjustments to mitigate the effects of different *812 methods of assessment applicable to centrally assessed public utilities versus locally assessed property (Tenn.Code Ann. § 67-5-1302) or real property versus tangible personal property ( Tenn.”
S. Ry. Co. v. State Bd. of Equalization, 682 S.W.2d 196 (Tenn. 1984). “§ 67-902 (now § 67-5-1302(a)(3)). The “unit” refers to all operating property, tangible and intangible, owned and used and/or leased by the company as determined by the Commission.”
In the Matter of All Assessments, Review of Ad Valorum, 58 S.W.3d 95 (Tenn. 2000). “827 included an amendment to a statute that is now codified at Tenn. Code Ann. § 67-5-1302 (b)(1). This statute provides as follows: (1) The assessments of public utility property, as set by the comptroller of the treasury in accordance with sub-section (a), shall be adjusted,…”
Colonial Pipeline Co. v. Morgan, 231 F.R.D. 518 (M.D. Tenn. 2005). “Tenn.Code Ann. § 67-5-1302. The unit value of Colonial, which traverses thirteen states, is apportioned to Tennessee by a recognized apportionment formula.”
S. Ry. Co. v. Stair, 801 F. Supp. 37 (W.D. Tenn. 1992). “T.C.A. § 67-5-1302. The “unit value” for all operating property in the plaintiffs’ entire multi-state system is first determined.”
CSX Transp., Inc. v. Tennessee State Bd. of Equalization, 801 F. Supp. 28 (M.D. Tenn. 1992). “T.C.A. § 67-5-1302. The “unit value” for all operating property in the plaintiffs entire multi-state system is first determined.”
Nw. Airlines, Inc. v. Tennessee State Bd. of Equalization, 861 S.W.2d 232 (Tenn. 1993). “” Pursuant to the provisions of T.C.A. §§ 67-5-1302(b)(l) and 67-5-1606(c), the value of commercial air carriers’ property that is assessed by the public service commission is adjusted so that the value of such property within each local tax jurisdiction bears the same ratio to…”
Kellogg Co. v. Tennessee Assessment Appeals Comm'n, 978 S.W.2d 946 (Tenn. Ct. App. 1998). “” T.C.A. § 67-5-1302(d) provides as follows: The commission shall recognize specific valuation for construction-in-proeess (“CIP”) tangible personal property in a manner consistent with that provided for locally assessed property under § 67-5-903(g)(1).”
In the Matter of: All Assessments, Review of Ad Valorem Assessments of Pub. Util. Companies for Tax Year 1999 & Tax Year 2000, No. M2000-00399-COA-R12-CV (Tenn. Ct. App. Jan. 30, 2001). “Alsup authorized equalization adjustments to mitigate the effects of different methods of assessment applicable to centrally assessed public utilities versus locally assessed property ( Tenn. Code Ann. § 67-5-1302 ) or real property versus tangible personal property ( Tenn.”
Colonial Pipeline Co. v. TN State Bd. Of Equalization, No. M2020-00247-COA-R12-CV (Tenn. Ct. App. Jan. 25, 2021). “As Colonial points out, our Supreme Court determined in In re All Assessments6 that the BOE has the authority to reduce the appraised (and assessed) value of centrally assessed 5 Tennessee Code Annotated section 67-5-1302(b)(1) states: The assessments of public utility property…”
Williamson Cnty. v. State Bd. of Equalization, No. M2000-03178-COA-R3-CV (Tenn. Ct. App. June 26, 2001). “Section 67-5-1509(a) of the Code mandates that locally assessed industrial and commercial personal property be adjusted by the sales ratio in each county.”
In the Matter of All Assessments, No. 01A01-9812-BC-00642 (Tenn. Ct. App. Aug. 20, 1999). “The comptroller makes the assessment as provided in T.C.A. § 67-5-1302. 4 These statutes require that rail transportation property, and air carrier transportation property be assessed the same as other commercial and industrial classified property.”
Tenn. Code Ann. § 67-5-1302(a): 1 case
Colonial Pipeline Co. v. Morgan, 231 F.R.D. 518 (M.D. Tenn. 2005). “Tenn.Code Ann. § 67-5-1302. The unit value of Colonial, which traverses thirteen states, is apportioned to Tennessee by a recognized apportionment formula.”
Tenn. Code Ann. § 67-5-1302(a)(2): 1 case
S. Ry. Co. v. Stair, 801 F. Supp. 37 (W.D. Tenn. 1992). “T.C.A. § 67-5-1302. The “unit value” for all operating property in the plaintiffs’ entire multi-state system is first determined.”
Tenn. Code Ann. § 67-5-1302(a)(3): 1 case
S. Ry. Co. v. State Bd. of Equalization, 682 S.W.2d 196 (Tenn. 1984). “§ 67-902 (now § 67-5-1302(a)(3)). The “unit” refers to all operating property, tangible and intangible, owned and used and/or leased by the company as determined by the Commission.”
Tenn. Code Ann. § 67-5-1302(a)(4): 1 case
S. Ry. Co. v. State Bd. of Equalization, 682 S.W.2d 196 (Tenn. 1984). “§ 67-902 (now § 67-5-1302(a)(3)). The “unit” refers to all operating property, tangible and intangible, owned and used and/or leased by the company as determined by the Commission.”
Tenn. Code Ann. § 67-5-1302(b): 2 cases
In re All Assessments, 67 S.W.3d 805 (Tenn. Ct. App. 2001). “Alsup authorized equalization adjustments to mitigate the effects of different *812 methods of assessment applicable to centrally assessed public utilities versus locally assessed property (Tenn.Code Ann. § 67-5-1302) or real property versus tangible personal property ( Tenn.”
In the Matter of: All Assessments, Review of Ad Valorem Assessments of Pub. Util. Companies for Tax Year 1999 & Tax Year 2000, No. M2000-00399-COA-R12-CV (Tenn. Ct. App. Jan. 30, 2001). “Alsup authorized equalization adjustments to mitigate the effects of different methods of assessment applicable to centrally assessed public utilities versus locally assessed property ( Tenn. Code Ann. § 67-5-1302 ) or real property versus tangible personal property ( Tenn.”
Tenn. Code Ann. § 67-5-1302(b)(1): 5 cases
In re All Assessments, 67 S.W.3d 805 (Tenn. Ct. App. 2001). “Alsup authorized equalization adjustments to mitigate the effects of different *812 methods of assessment applicable to centrally assessed public utilities versus locally assessed property (Tenn.Code Ann. § 67-5-1302) or real property versus tangible personal property ( Tenn.”
In the Matter of All Assessments, Review of Ad Valorum, 58 S.W.3d 95 (Tenn. 2000). “827 included an amendment to a statute that is now codified at Tenn. Code Ann. § 67-5-1302 (b)(1). This statute provides as follows: (1) The assessments of public utility property, as set by the comptroller of the treasury in accordance with sub-section (a), shall be adjusted,…”
In the Matter of: All Assessments, Review of Ad Valorem Assessments of Pub. Util. Companies for Tax Year 1999 & Tax Year 2000, No. M2000-00399-COA-R12-CV (Tenn. Ct. App. Jan. 30, 2001). “Alsup authorized equalization adjustments to mitigate the effects of different methods of assessment applicable to centrally assessed public utilities versus locally assessed property ( Tenn. Code Ann. § 67-5-1302 ) or real property versus tangible personal property ( Tenn.”
Colonial Pipeline Co. v. TN State Bd. Of Equalization, No. M2020-00247-COA-R12-CV (Tenn. Ct. App. Jan. 25, 2021). “As Colonial points out, our Supreme Court determined in In re All Assessments6 that the BOE has the authority to reduce the appraised (and assessed) value of centrally assessed 5 Tennessee Code Annotated section 67-5-1302(b)(1) states: The assessments of public utility property…”
Williamson Cnty. v. State Bd. of Equalization, No. M2000-03178-COA-R3-CV (Tenn. Ct. App. June 26, 2001). “Section 67-5-1509(a) of the Code mandates that locally assessed industrial and commercial personal property be adjusted by the sales ratio in each county.”
Tenn. Code Ann. § 67-5-1302(b)(l): 3 cases
In re All Assessments, 67 S.W.3d 805 (Tenn. Ct. App. 2001). “Alsup authorized equalization adjustments to mitigate the effects of different *812 methods of assessment applicable to centrally assessed public utilities versus locally assessed property (Tenn.Code Ann. § 67-5-1302) or real property versus tangible personal property ( Tenn.”
Nw. Airlines, Inc. v. Tennessee State Bd. of Equalization, 861 S.W.2d 232 (Tenn. 1993). “” Pursuant to the provisions of T.C.A. §§ 67-5-1302(b)(l) and 67-5-1606(c), the value of commercial air carriers’ property that is assessed by the public service commission is adjusted so that the value of such property within each local tax jurisdiction bears the same ratio to…”
In the Matter of All Assessments, Review of Ad Valorum, 58 S.W.3d 95 (Tenn. 2000). “827 included an amendment to a statute that is now codified at Tenn. Code Ann. § 67-5-1302 (b)(1). This statute provides as follows: (1) The assessments of public utility property, as set by the comptroller of the treasury in accordance with sub-section (a), shall be adjusted,…”
Tenn. Code Ann. § 67-5-1302(d): 1 case
Kellogg Co. v. Tennessee Assessment Appeals Comm'n, 978 S.W.2d 946 (Tenn. Ct. App. 1998). “” T.C.A. § 67-5-1302(d) provides as follows: The commission shall recognize specific valuation for construction-in-proeess (“CIP”) tangible personal property in a manner consistent with that provided for locally assessed property under § 67-5-903(g)(1).”
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