The State Division of Property Assessments has the duty to develop methods and procedures to assist local assessors and boards of equalization in administering the annual assessment process and in maintaining assessments through a process of updating valuations, property ownership records, and other information and records.1The Division of Property Assessments has developed manuals, rules, and regulations which relate to the duties of assessors of property and to reappraisal programs.2These manuals provide for consideration of the following factors in determining property values:
For determining the value of industrial, commercial, farm machinery and other personal property, these manuals provide for consideration of the following factors:
For determining the value of forestland, the State Division of Property Assessments consults with the U.S. Forest Service and the state forester to establish guidelines to be used in the manual.3
1T.C.A. § 67-1-205(a).
2T.C.A. §§ 67-1-205(a); 67-5-505; 67-5-602.
3T.C.A. § 67-5-602.