The Trustee analyzes economic conditions, business patterns, new construction, and population changes to prepare a meaningful county revenue forecast. Shelby County Commissioners use this information as they set the tax rate and prepare the county budget for the next fiscal year. As an ongoing activity, the Trustee monitors receipts in comparison to revenue forecasts on a daily basis. The results are published to the Trustee web site providing taxpayers and county leaders with immediate access to the latest information.
Adjustments & Analysis
In addition to tax billing and collections, the Trustee monitors adjustments to property taxes. Errors on tax records and double assessments are noted and corrected. Tax adjustments become necessary if properties are assessed in error, double assessed, or if collection is barred due to the statute of limitations. According to T C.A. § 67-5-1806 (PDF), taxes become uncollectible and collection activity is prohibited after 10 years (beginning from April 1 of the year following the year in which taxes become delinquent).