Tennessee Code Annotated

Tenn. Code Ann. § 67-5-902 (2026)

Schedules generally

✓ current as of May 2026

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(a) Unless otherwise provided for, those owners and lessees of taxable tangible personal property who are required by rules and regulations of the state board of equalization to report to the assessor shall report on such schedule as the state board of equalization may require. The schedule adopted by the board shall provide that a value different from standard depreciated cost may be used where such value more closely approximates fair market value, and the assessor may request supportive information in such instances from the taxpayer.

(b) If a taxpayer would be liable for additional tax due to back assessment of property omitted from a reporting schedule, or due to reassessment of property included in the schedule, the taxpayer may offset this liability by showing that other property listed on the schedule was over reported, or by providing information that the reassessed property or other property listed on the schedule should be valued using a nonstandard method that more closely approximates fair market value.

(c) With approval of the director of property assessments, the assessor may require electronic filing for tangible personal property schedules and for any year in which electronic filing is required in the county, the filing deadline is extended to April 15, and tangible personal property assessments may be appealed directly to the state board of equalization until forty-five (45) days after the assessment change notice is sent.

Amended by 2014 Tenn. Acts, ch. 938,s 2, eff. 5/19/2014.

Acts 1973, ch. 226, § 6, T.C.A., § 67-617; Acts 1990, ch. 1075, § 3; 2005, ch. 201, § 1.

Notes of Decisions

Cited in 4 cases, 1999–2020 · leading case: In re All Assessments, 67 S.W.3d 805 (Tenn. Ct. App. 2001).

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In re All Assessments, 67 S.W.3d 805 (Tenn. Ct. App. 2001). · cites it 2× “T.C.A. §§ 67-5-902, 903. Under T.C.A. § 67-6-903®, fixed rates of allowable depreciation costs are established for valuing the nine categories of locally assessed business and industrial personal property.”

In the Matter of: All Assessments, Review of Ad Valorem Assessments of Pub. Util. Companies for Tax Year 1999 & Tax Year 2000 (Tenn. Ct. App. 2001). · cites it 2× “T.C.A. §§ 67-5-902, 903. Under T.C.A. § 67-5- 903(f), fixed rates of allowable depreciation costs are established for valuing the nine categories of locally assessed business and industrial personal property.”

Anderson Cnty. Tennessee, et ql. v. Tennessee State Bd. of Equalization (2020). “1 Tenn. Code Ann. § 67-5-902 (a) provides, in relevant part, as follows: Unless otherwise provided for, those owners and lessees of taxable tangible personal property who are required by rules and regulations of the state board of equalization to report to the assessor shall…”

In the Matter of All Assessments (Tenn. Ct. App. 1999). · cites it 2× “T.C.A. §§ 67-5-902, 903. Under T.C.A. § 67-5-903(f), fixed rates of allowable depreciation costs are established for valuing the nine categories of locally assessed business and industrial personal property.”

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