Definitions

For purposes of the tax freeze rules and regulations: (1) “Act” or “Tax Freeze Act” means the law codified as Tenn. Code Ann. § 67-5-705. (2) “Affidavit” is hereby defined as a notarized statement under oath which specifies all pertinent data and contains the valid signature of all parties thereto. (3) “Base Assessment” means the assessment as determined by the assessor of property used to determine the base tax. (4) “Base Tax” as defined by Tenn. Code Ann. § 67-5-705(c)(1) (5) “Collecting official” as defined by Tenn. Code Ann. § 67-5-705(c)(2). (6) “Division” or “Division of Property Assessments” shall mean the Division of Property Assessments in the Office of the Comptroller of the Treasury created by Tenn. Code Ann. § 67-1-201. (7) “Improvement” as defined by Tenn. Code Ann. § 67-5-705(c)(3). (8) “Owner” means a person that has a present possessory interest in the property fee or life estate, but for the purposes of the income requirement, “owner” includes persons of any interest in the property, including holders of remainder interest, who use the property as their principal residence at any time during the year . PROPERTY TAX FREEZE PROGRAM CHAPTER 0600-9 (9) “Principal residence” as defined by Tenn. Code Ann. § 67-5-705(c)(4). Principal residence shall be determined and limited as provided for in Rule 0600-9-.04. (10) “Tax year” means the period of January 1 through December 31 of the year in which property taxes become due. (11) “Taxpayer” is hereby defined to be the applicant, except for determination of income. Authority: Public Chapter 581, Acts of 2007, T.C.A. §67-5-705. Administrative History: Original rule filed November 13, 2007; effective January 27, 2008. 0600-9-.03. ADOPTION AND TERMINATION OF PROGRAM BY LOCAL GOVERNMENT (1) Adoption of Tax Freeze Program. The legislative body of any county or municipality adopting the property tax freeze program provided in Tenn. Code Ann. § 67-5-705 must do so by either resolution or ordinance. Upon adoption of such a resolution or ordinance, the clerk of the legislative body shall file a copy of the resolution or ordinance with the Division of Property Assessments within 45 days of adoption. (2) Termination of Tax Freeze Program. The legislative body of any county or municipality which has adopted the property tax freeze program provided in Tenn. Code Ann. § 67-5-705 may terminate the program by adopting a resolution or ordinance terminating the program. The clerk of the legislative body must file a copy of the resolution or ordinance terminating the program with the Division of Property Assessments within 45 days of adoption. The collecting official shall remove all taxpayers under the tax freeze program for the tax year subsequent to the year in which the resolution or ordinance terminating the program is adopted.