What to do About Payment of Taxes While an Exemption Application Appeal is Pending

When a final determination is issued by the Board of Equalization or Assessment Appeals Commission, the taxpayer will receive a refund of any overpayment or will owe the amount of any underpayment of taxes, along with interest at the rate provided by law. While the exemption application is pending, the applicant is not required to pay taxes on property that is under application.

If you or the tax collecting official have questions about this requirement, please call our office at 615-401-7883.

The interest rate applicable to taxes under appeal is the composite prime rate published by the Federal Reserve Board, minus two points.