About Property Tax
1. When are property tax bills mailed out?
During the last week of September, property tax bills are mailed to the owner of record (as of 1 January). If a deed change occurs after the first of the year, a tax bill is mailed to the new owner of the property as a courtesy. New owners should contact their title company or review their closing statement to determine who is responsible for paying the taxes. Payment of property tax depends on when the property is transferred. Unpaid taxes continue to accrue against the property.
2. What time of year are property taxes due? Taxes are due and payable from 1 October through the last day of February. 3. Are partial payments accepted for my taxes? Yes. Until the tax amount is paid in full, a tax lean will remain in effect on your property and it can be sold at the tax sale. 4. What happens if I miss the tax payment deadline? From the first day of each month beginning 1 March, interest and penalty of 1.5 percent per month (18 percent annually) is added to your tax amount. If the Post Office fails to postmark your payment by the dates due, it is considered a late payment. This applies even if you mail your payment on time. For mail-in payments, office meter dates are not accepted. On line property tax payments made through the BIS Online Tax system are recognized by the county as paid on the date of the online transaction.5. What time period do my annual taxes cover? The taxes that become payable October 1 cover the current calendar year.
6. Where can my tax bill be paid in person? The trustee's office is located at One Public Square, Columbia, Tennessee 38401. Our office hours are 8:00 a.m. - 4:00 p.m. Monday through Friday.
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. What do some of the terms on my tax bill mean? Check the online glossary section for definitions of terms on your tax bill.
9. Does my mortgage company get a copy of my tax bill mailed to them? Most mortgage companies do obtain tax information from the State of Tennessee or from the local Trustee’s Office. When the mortgage companies ask for a particular parcel, we send the tax information to them. However, it is the property owner's responsibility to make sure the taxes are paid. Usually, the mortgage company will send the property owner a summary of what has been paid.
1. Do the elderly, disabled or disabled veterans receive any discounts or exemptions? Eligibility requirements include: age/ disability; ownership/ residency; and income (except veterans and their eligible surviving spouses). To apply for property tax relief you must meet these three basic criteria - these are described below. Reimbursements for the property taxes of low-income homeowners who are elderly or disabled are provided by the state of Tennessee. 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 $18,000 market value of the property.
Age/ Disability
During the tax year for which they are applying, an applicant must turn 65 on or before December 31. In order to apply as a disabled homeowner, a person must have become disabled on or before December 31 of the year.
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 Disabled Homeowners)
The combined annual income from all sources of all the living owners of record is required and cannot exceed $24,790 for the year 2007. Annual income from 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.
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 $140,000 of market value of the home.
Applications for tax relief are available in the trustee's office. For more information, call our office at (931)375-2201.
1. Is there a charge for reviewing information about my property? For an individual property, there is no charge for reviewing tax information.
2. Is my property information viewable by other people? Any individual or company is allowed to review it. Property tax information is public record.
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 (931) 375-4001.
2. How are the county assessor's office and the trustee's office related? The county assessor is responsible for the appraisal and assessment of property, according to state law. 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. What is the appeal process? Appointments can be made by contacting the assessor's office. The appeal process begins in the county assessor's office by appearing before the Local Board of Equalization. This board meets annually during the first two weeks of June.
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 usually held in March of each year.
3. Where and when will the auction/sale be advertised? The Columbia Daily Herald.
4. When are tax sales advertised? The auction list is published twice usually the first Sunday in March and the last Sunday before the sale date.
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 are used? This is an open public auction.
9. Will the sales be final? Yes, all sales are final at the auction but subject to the one year redemption period.
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. Existing easements, leases, city taxes, or property use restrictions remain as is.
11. Is there a redemption period before I can take possession once a property is acquired through your tax sale, 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? Present law provides an annual interest rate of 10 percent earned on the property bid 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 upon your request and payment of the clerks deed fee. 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 in March before the tax sale. You may obtain a copy by contacting the newspaper. Up until the sale time properties will be removed from the sale if the taxes are paid.17. Is a copy of the county and state statutes and rules regarding the tax sale available for purchase? No. The public library has a copy of the Tennessee Code Annotated.
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