RESOLUTION NO. RS2001-632
A resolution approving the plan for the reappraisal and equalization of assessments in Davidson County as submitted by the Metropolitan Assessor of Property, and approving receipt of state funds for sharable local costs.
Whereas, the 1980 Tennessee General Assembly passed Public Chapter 820 and the same became effective July 18, 1980; and
Whereas, said Public Chapter 820, as amended, requires, beginning January 1, 1980, that a reappraisal of all real property and an equalization of assessments be completed in every county in Tennessee every six (6) years; and
Whereas, Public Chapter 820, as amended, allows a reappraisal every four (4) years, as determined by the Assessor of Property, with the approval of the local governing body; and
Whereas, the Metropolitan
Assessor of Property has determined that it is in the best interest of the Metropolitan
Government for reappraisal to be accomplished in Davidson County on a four (4)
year cycle comprised of an on-site review of each parcel of property over a
three-year period, followed by a revaluation of all such property in the year
following completion of the review period; and
Whereas, Public Chapter 820, as amended, requires that a county's reappraisal and equalization program be carried out in accordance with standards, rules and regulations formulated by the State Division of Property Assessments and approved by the State Board of Equalization; and
Whereas, in accordance with Chapter 820, as amended, the Assessor of Property for the Metropolitan Government has prepared a plan for carrying out the county's reappraisal and equalization program (a copy of which is attached hereto) and which must be approved by resolution of the county legislative body and the Metropolitan Mayor, pursuant to TCA § 67-5-1601; and
Whereas, Public Chapter 820, as amended, further requires the State of Tennessee to pay one half (1/2) of the sharable local costs of the Reappraisal and Equalization Program as described in said Plan, with "sharable local costs" defined as costs determined by the State Board of Equalization, for professional staff necessary to accomplish revaluation and continuous on-site review of properties, necessary clerical personnel, supplies, data entry, computer processing, computer forms and shipping, and
Whereas, the State Board of Equalization has determined that the sharable local costs for Davidson County are $253,134.00 per year, of which the State will contribute one half (1/2) or $126,567.00 annually; and
Whereas, Public Chapter 820, as amended, identifies certain costs of reappraisal and current value updating as "nonsharable state costs," including reappraisal valuation assistance and development of valuation indexes; and
Whereas, the State's largest counties, including Davidson County, have a greater volume and variety of assessable properties, an appraisal system distinct from the State system, and a larger assessor's staff compared to the smaller counties; and
Whereas, it is generally more efficient for the Assessor of Property in larger counties, such as Davidson County; to perform certain of the "nonsharable state" functions than for the State to perform them.
Now therefore, be it resolved by the Council of The Metropolitan Government of Nashville and Davidson County:
Section 1: That the Plan for the Reappraisal and Equalization of Assessments in Davidson County, as submitted by the Assessor of Property, which Plan is attached hereto, is approved in all its particulars.
Section 2: That the Metropolitan Government shall accept from the State Board of Equalization $126,567.00 per year representing the State's portion of sharable local costs for the county's reappraisal and equalization program.
Section 3: This resolution shall take effect from and after its passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Sponsored By: Howard Gentry
|Referred to:||Budget & Finance Committee|
|Introduced:||June 5, 2001|
|Adopted:||June 5, 2001|
|Approved:||June 7, 2001|