Time running out for flood victims to file for property tax relief

Aug. 20– Tennessee homeowners and business owners affected by historic floods this spring have 12 days to seek relief on their local property taxes.

Gov. Phil Bredesen signed into law a bill unanimously approved by lawmakers in May that allows local taxing districts in the 46 counties that were declared federal disaster areas to reassess homes that were damaged in the storms.

Hardin and McNairy counties are included.

Under the new law any home that has been deemed unfit for use for more than 30 days or any home that sustained damages equal to more than 50 percent of the home’s pre-flood value would be eligible for an assessment reduction.

The law is only applicable in communities where the local governing bodies chose by two-thirds vote to participate in the tax relief program.

Hardin County Assessor of Property Calvin Hinton said the county chose to participate, but the city of Savannah has not.

Monday, the Hardin County Commission approved the measure authorizing reassessments for county flood victims.

That means owners of flood-damaged homes in Savannah are eligible for possible assessment reductions resulting in lower county property tax bills, but not city property taxes.

Applications must be filed with the local property assessor’s office by Sept. 1.

"Tennesseans deserve all the help we can provide to rebuild homes and businesses after these catastrophic floods washed so much away," said Bredesen. "I hope family members, friends and neighbors will share the news that this deadline is fast approaching."

Tennessee businesses, which are required to pay property taxes on tangible personal property, are also eligible for tax relief.

Under the law, businesses can receive reduced assessments for their property if their business was destroyed, demolished, or substantially damaged and is not replaced or restored by Sept. 1.

Even if a property owner is not sure whether there was enough damage to qualify for a reassessment, the paperwork should be filed by the deadline, advises AARP Tennessee State Director Rebecca Kelly.

That will allow an inspector from the local assessor’s office to visit the property and determine the amount of damage.

A property owner who isn’t satisfied with the damage estimate can appeal to the State Board of Equalization.

"We want every Tennessean who was impacted by these floods to get whatever relief is available to help them restore their property, their community and their lives," said Kelly.

Hinton noted that losses caused by Wednesday’s flash flooding in Hardin County are not included in the relief bill.