Article II, Section 28 of the Tennessee Constitution is the basic constitutional authorization to tax; it provides that counties and municipalities are authorized to levy a property tax on all property --- real, personal, or mixed --- based on the value of the property. Pursuant to this constitutional authorization, the General Assembly enacted T.C.A § 67-5-101, which provides that all property, real and personal, shall be assessed for taxation purposes for state, county, and municipal purposes, except for the property declared exempt . In addition, the General Assembly has enacted legislation to enforce the power to tax, to declare certain property exempt from taxation, and to determine various methods to ascertaining "fair market value.” Counties and Municipalities are authorized by the General Assembly to levy real property, tangible personal property, intangible personal property, and public utility taxes within their boundaries. Taxing power is legislative and cannot be delegated except as the Constitution provides.
-----From the 2010 Property Tax Manual as published by the County Technical Assistance Service
The Bradley County Assessor’s Office operates under the provisions of the State of Tennessee Constitution as reflected above and the T.C.A. §67-5-101 as well as under the rules and provisions determined by the State Board of Equalization and the Division of Property Assessments.
To accomplish the objectives tasked to the Bradley County Assessor’s Office, as outlined above, requires personnel trained in a number of areas. Although the assessment date of all properties is January 1st of each year, updating information is continuous year round.
The Assessor’s Office maintains the GIS parcel layer based on deeds, surveys and other sources of data that is available. The properties are mapped from these sources of data to determine approximate boundaries and estimates of the amount of property in each parcel. This creates an inventory of all properties in Bradley County to be assessed. Each parcel is assigned a unique parcel number, or Tax Identification number, which is used to help track all information pertaining to the individual property.
Ownership determined by the various legal documents used to transfer property, which are recorded in the Register of Deeds office. All properties are assessed based on the recorded ownership on January 1st of any year. The date used to determine year of ownership is generally the date the document is signed and delivered. However because there is no statute requiring such documents to be recorded there can be transfers that are not reflected in the Assessor’s records
All of the methods of appraisal require accurate data from the field in measurements and pertinent data collected during field visits by the staff. All members of our field staff have identification and use marked county vehicles. If any of these staff members contact you please be assured that the questions they are asking are used only to ensure accuracy of the appraisals.
Appraisals are based on the current market data, from sales information recorded in the Register of Deeds office and other sources. Most all residential and farm appraisal data is based on the sales approach, applied by mass appraisal methods using standardized valuation techniques and statistical studies of the sales data.
Commercial appraisals are mostly done on the cost approach, but also take into account the income approach to valuation, with the value adjusted, based on an income stream capitalized into value. Sales data is taken into consideration, but with limited commercial sales, this method is not as easily applied for commercial properties.
The State of Tennessee requires a cyclical revaluation of each county in the state in Four, Five or Six Year Plans. Bradley County is operating under the Four Year Reappraisal cycle.
This cycle require the staff to review all parcels for accuracy and changes during over 3 years with a revaluation of the market data in the fourth. This is done to reflect changes in value over time and adjust for changes that may take place in various neighborhoods.