Commercial properties under construction in Tennessee can receive two assessment notices in a single calendar year. The initial notice will be based on construction in progress as of January 1 and issued in late spring. However, if the property is deemed substantially complete between January 1–August 31, the county could send a supplemental valuation notice. Supplemental notices are issued in September, with only a 45-day appeal window.
If you completed a construction project this year, please reach out to our Ryan professionals below to determine possible exposure and explore available tax minimization strategies.
TECHNICAL INFORMATION CONTACTS:
Brad Wallace
Principal
Ryan
404.942.6346
brad.wallace@ryan.com
Caitlyn Smagh
Senior Manager
Ryan
404.942.6380
caitlyn.smagh@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.
- Topics
- Brad Wallace
- Property Tax
- Tennessee