Taxes, Ad Valorem - As introduced, requires the notification submitted by the director of the division of property assessments to the commissioner of finance and administration of the default by a county or city in the repayment of a loan provided by the state to finance the city's or county's real property reappraisal program to be in writing. - Amends TCA Title 67, Chapter 5.

Summary

The bill amends the state code to require that the director of the Division of Property Assessments send a written notification to the Commissioner of Finance and Administration when a county or city fails to repay a state loan for its real‑property reappraisal program. It applies to local governments that receive such loans and to the state officials who oversee the loan program. The change aims to create a clear, documented record of defaults.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share