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David Lenoir
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Shelby County Trustee
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Topics:
In-Lieu-of (INL) Taxes
The Payment In-Lieu-of Tax (PILOT) Program is administered by eight development
Boards. PILOT is an incentive program to expand/attract
businesses to Shelby County and the downtown area, renovating existing buildings and
creating new jobs. Taxes are frozen via contractual agreement.
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Rollback Taxes
Rollback taxes are assessed when a parcel with a Greenbelt
classification becomes nonqualified by virtue of a change in use. The rollback tax is
based on the amount of tax saved by the difference in the Greenbelt value and the market
value of the property. The rollback tax includes the preceding three years for
agricultural and forest land and the preceding five years for open-space land.
Unless otherwise stated in a written contract, a seller is liable for the rollback taxes if, as a result of
the sale, the property no longer qualifies as Greenbelt. If a buyer converts the property
from Greenbelt use after the sale takes place, the buyer is liable for any rollback taxes. Further,
a buyer who declares in writing at the time of sale an intention to continue the
greenbelt classification, but fails to file the necessary form with the Shelby
County Assessor of Property within 90 days of the sale, rollback taxes are
assessed and the buyer becomes the sole responsible party for payment.
Unpaid rollback taxes become a first lien against the property no matter who is
responsible for payment.
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Railroad & Public Utility Tax
Utility and
Transportation Property Tax is based on an assessment made
by a division of The State Comptroller of the Treasury. Properties assessed include realty
within the state owned by, and all personal property used and/or leased by,
railroads, public utility or transportation companies.
| Railroad |
Pipeline |
Taxicab/Transit/Limousine |
| Telephone |
Gas |
Commercial Air Carrier |
| Freight/Private Car |
Electric Light |
Water Transportation Carrier |
| Street Car |
Water &/or Sewerage |
Cellular |
| Power |
Express |
Motor Bus and/or Truck |
Address questions regarding assessments to:
Tennessee Comptroller of the Treasury
Office of State Assessed Properties
James K. Polk Building
505 Deaderick St.; Ste. 1700
Nashville, TN 37243
Telephone: 615-401-7900
Email: osap.osap@state.tn.us
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