Tennessee SBOE Finds Taxpayer’s Property Eligible for Greenbelt Status, Abates Rollback Assessment

The Tennessee State Board of Equalization (SBOE) July 29 abated the Greenbelt rollback property tax assessment issued by the Crockett County Property Assessor’s office against Taxpayer based on Taxpayer’s failure to timely apply for the Greenbelt status. The assessor’s office issued a notice of rollback assessment because Taxpayer gave a conservation easement to the U.S. Department of Agriculture that curtailed further agricultural use of the property. On appeal, the SBOE noted that: 1) the subject property would have qualified as “open space land” but Taxpayer failed to apply for open space land qualification; 2) Taxpayer filed its appeals before the ...