Trustee - FAQ

1. When will I receive my property tax bill?
Property tax bills are mailed by October 15 of each year to the owner of record (as of January 1). As a courtesy, a tax bill will be mailed to the new owner of the property if a deed change occurs after the first of the year through June 30th. Depending on when the property is transferred, new owners should contact their title company or review their closing statement to determine who is responsible for paying the taxes. However, unpaid taxes will continue to accrue against the property.

2. When are my property taxes due?
Taxes are due and payable form October 1 through February 28.

3. Can I make partial payments on my taxes?
Yes. We will accept any amount you pay within four (or less) separate payments. Interest and penalty will be assessed to any amount left unpaid when the taxes become delinquent. The tax lien on your property will remain in effect until the tax amount is paid in full.

4. What if I miss the deadline for my tax payment?
Interest and penalty of 1.5 percent per month (18 percent annually) is added to your tax amount the first day of each month beginning March 1. If you mail your payment on time, but the Post Office fails to postmark it by those dates, it will be considered a late payment. Office meter dates are not acceptable for mail-in payments.

Penalties/Interest:

March - 1.5%	October - 12.0%
April - 3.0%	November - 13.5%
May - 4.5%	December - 15.0%
June - 6.0%	January - 16.5%
July - 7.5%	February - 18.0%
August - 9.0%	March - 19.5%
September - 10.5%	(filed in Chancery Court after 3/1)

5. What time period do my annual taxes cover?
The taxes that become payable October 1 cover the current calendar year January 1 through December 31.

6. Where can I pay my bill in person?
The trustee’s office is on the second floor of the Tipton County Courthouse, Room 203. Our office hours are 8:00 a.m. – 5:00 p.m. Monday through Friday. You may also pay at Munford City Hall on scheduled days.

7. What does the term “Etux” beside my husband’s name on the property bill mean?
Etux is a Latin phrase meaning “and wife”. The phrase “Etvir” means “and husband,” Etal means “and others.”

8. Where can I find a definition for some of the terms on my tax bill?
Check the online glossary section for definitions of terms on you tax bill.

9. Do you mail a copy of the tax bill to my mortgage company?
All tax bills are mailed to the property owner to review the information. It is the property owner’s responsibility to forward this to their mortgage company.

Exemptions

1. Are there any discounts or exemptions for the elderly, disabled or disabled veterans?
The State of Tennessee provides reimbursements for the property taxes of low-income homeowners who are elderly or disabled. Income does not apply to disabled veterans or their surviving spouses. Reimbursements are given on all or part of the local taxes paid on property which the taxpayer owns and uses as his/her residence. These benefits are paid on the first $25,000 market value of the property. For the tax year 2009 this amount is $146.00.

A person applying for property tax relief must meet three basic criteria. The eligibility requirements include: age/disability; ownership/residency; and income (except veterans and their eligible surviving spouses).

Age/Disability - An applicant must turn 65 on or before December 31 of the tax year for which they are applying. A person must have become disabled on or before December 31 of the year in order to apply as a disabled homeowner. An applicant may apply if they are awaiting a decision on their disability claim. The final decision must indicate their disability began on or before December 31 of the tax year and the state office must receive it by 35 days following the delinquency date.

Ownership/Residency - An applicant must be able to document that they had ownership of the taxable property during the tax year. Ownership may be documented by a tax bill/receipt, warranty deed, probated will, title or bill of sale for a mobile home.

Income Requirement (Elderly or Disable Homeowners) - The combined annual income from all sources of all the living owners of record is required and cannot exceed $25,360 for the year 2008. Annual income form all sources shall include, but is not limited to, Social Security payments after the Medicare deduction, Supplemental Security Income, retirement and pension benefits, veteran’s benefits, worker’s compensation, unemployment compensation, salaries and wages, alimony, total interest and total dividends. For income from a business, include only the net income or loss after expenses. Income of applicant's spouse is required even if they are not an owner on the property.

Disabled Veterans - Disabled Veterans must have disability ratings at 100 percent. The disabilities must meet specific criteria under service connection, be combat-related or the result of being a prisoner of war for at least five months. For veterans who qualify, there is no income limit. Tax relief is paid on the first $175,000 of market value of the home.

Applications for tax relief are available in the trustee’s office. For more information, call our office at (901) 476-0211.

Reviewing Your Property Info

1. Will I be charged for reviewing information about my property?
There is no charge for reviewing tax information about an individual property.

2. Can other people view my property information?
Like all public records, all property tax information is available to any individual or company that wishes to review it.

Property Assessment

1. Where can I find information about the assessed value of my property?
The county assessor is responsible for the appraisal and assessment of property. You may contact the county assessor’s office at (901) 476-0213

2. What is the relationship between the county assessor’s office and the trustee’s office? According to state law, the county assessor is responsible for the appraisal and assessment of property. The trustee’s office is responsible for billing and collection of taxes based on assessments. The trustee has no authority over the amount of assessment, nor can she be involved in the appraisal process.

3. How do I appeal?
The appeal process begins in the county assessor’s office by appearing before the Local Board of Equalization. This board meets annually beginning the first Monday in June. Appointments can be made by contacting the assessor’s office at 901-476-0213 -http://www.comptroller.state.tn.us/propertydata/

Tax Sale Information

1. What is a tax sale?
An auction of parcels of property that have delinquent taxes.

2. What is the date and time of the annual tax sale auction?
The tax sale auction is held October or November of each year.

3. Where and when will the auction/sale be advertised?
Local newspaper/The Covington Leader

4. How often do you advertise sales?
The auction list is published once approximately 2-3 weeks before the sale.

5. How and when do you register for the tax sale auctions?
There is no registration. You must simply be present to bid.

6. Is it possible to register by mail?
No, you can’t register by mail.

7. What type of payment is required at auction?
Either cash, money order, or check is required at the time of the sale.

8. What type of bidding process will be used?
This is an open public auction.

9. Will the sale be final?
Yes, all sales are final at the auction.

10. Will all other liens be cleared from the property as a result of the sale?
All liens except state and federal liens are cleared.

11. Once a property is acquired through your tax sale, is there a redemption period before you can take possession? If so, what is the redemption period?
The new owner cannot take possession of the property until one year from the date the confirmation of sale is filed.

12. If there is a redemption period, does the investor earn interest during the redemption period? If so, what is the annual interest rate?
There is an annual interest rate of 10 percent earned on the property during the redemption period.

13. If a foreclosure is necessary, will the county assist in this matter?
No. The county does not assist with foreclosures.

14. Will I receive a document to verify the purchase? Will it be a deed or a certificate of lien?
You will receive a receipt showing the amount you paid. At the end of the redemption period, the county will issue a deed.

15. Do you allow investors to invest at your tax sales without attending the tax sale?
No.

16. Is a current list of available properties or liens available?
The available properties are published 2-3 weeks before the tax sale. You may obtain a copy by contacting the newspaper.

17. Is a copy of the county and state statutes and rules regarding the tax sale available for purchase?
No.

18. Would you please place me on your mailing list if you have one?
There is no mailing list available.

19. Can I get a list of properties whose redemption period has already expired?
There are no properties available.

20. When will the list of unsold/unbid-on property be available?
There is rarely property remaining after an auction that hasn’t been sold or bid on. If there is any property that was not sold or bid on, the one year redemption period applies to the county.

Glossary

Acres - Units used to measure the size of a property. Taxes are based on the calculated acres.

Appraisal - The fair market value of your property.

Assessment - A percentage of the appraised value used to calculate tax payments.
Residential and farms – 25% of the appraised value
Personal Property – 30% of the appraised value
Commercial Property – 40% of the appraised value

City - The number assigned to the incorporated cities within the county.
171 Covington - 901-476-9613
036 Atoka - 901-837-5300
087 Brighton - 901-475-0324
467 Mason - 901-294-3525
512 Munford - 901-837-0171

Classification - Identifies the use of the property (i.e., residential, commercial, farm, agriculture, personal property, industrial). Farm identifies 14 acres or less or 15 acres or more that is not in the greenbelt (discounted value) program. Agriculture is 15 acres or more in the greenbelt program.

CO - The number assigned to Tipton County.

Current Taxes - The base amount of the property taxes owed.

DI Map Group Ctl Map Parcel S/I - DI (District): The county is divided into 15 civil districts. This identifies the district where the property is located.
      Map: Identifies the property assessor’s map number.
     Group: The letter assigned to a group of parcels on a certain map.
     Ctl Map: The controlling map number used to identify the property.
     Parcel: The number assigned to each parcel of land (within the group number).
     S/I (Special Interest): This applies to property that has separate assessment. (i.e., the city limits may divide a parcel; a commercial business located within a residential property; multiple personal property assessments located on one parcel of property).

EQ Factor - Equalization Factor: The ratio between the market value and the appraised value on record in the assessor’s office. This ratio is applied to personal property taxes when the ratio is below 90%.

Property Address - The physical addressGreenbelt - The Agricultural, Forest and Open Space Land Act of 1976, known as the Greenbelt Law, allows certain land to be taxed based on its present use instead of the market value. Two or more separate tracts under the same owner may qualify if one is at least 15 acres and none is less than 10 acres, and if all are part of a farm. To qualify for greenbelt, farm property must produce an average annual gross farm income of at least $1,500. For more information, contact the property assessor’s office. of a property.

Receipt No - A unique number that changes each year and identifies a single tax bill.

Rollback Taxes - When greenbelt property is disqualified for any reason, the owner is liable for a rollback assessment, which means a repayment of the taxes saved while the land was classified as greenbelt.

Rollback Yrs. (Years) - The years the rollback tax is assessed. The rollback period is three years for agriculture and forestland, five years for open space land and ten years for land under the open space easement.

SSD (Special School District) - There are no special school districts in Tipton County.

Subdivision Name BLK Lot - This information identifies the property as filed in the plat in the Register of Deed’s Office.

Subdivision Name - Name of the subdivision on the plat.
BLK: Block number
Lot: Lot number(s)

Tax Rate per $100 of Assessment - The ratio of dollars of tax per $100 of assessed value. The County Legislative Body sets the tax rate annually. This rate is applied per $100 of the assessed value. (Assessed value divided by 100 x tax rate = amount of property tax).

Tax Yr. (Year) - The calendar year for which the taxes have been assessed.

Total Due - The total amount of the current year’s tax owed by property owner.