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Payment in Lieu of Tax (PILOT) and Tax Increment Financing (TIF) Reporting Deadline

September 1, 2023

NOTICE

To:           Private Lessees/Companies
                 Industrial Development Board Staff Contacts
                 Local Housing Authority Staff Contacts
                 Assessor of Property Contacts

From:      E. Robin Pope, JD
                 Executive Secretary
                 State Board of Equalization

Re:           Payment In Lieu Of Tax (PILOT) and Tax Increment Financing (TIF) Reporting and Submissions are due                  October 1, 2023

Businesses leasing property from public boards and authorities are required to annually report to the Comptroller of the Treasury concerning leased properties by October 1st of every year. Tenn. Code Ann. §§ 7-53-305(e), 7-67-114(b), 9-23-106(b), and 48-101-312(d).

In addition, Tenn. Code Ann. § 4-17-103 requires parties to economic development agreements to file final agreements with the Comptroller of the Treasury and the chief executive officer of each jurisdiction in which the property is located.

The annual reports with the Comptroller of the Treasury can be filed online through the Comptroller’s website at https://www.comptroller.tn.gov/SBOE > Property Tax Incentive Programs.

Please note:
• A late filing fee of $50 will be charged for filings made after October 1st.

• Filers are required to file a copy of the report with the County Assessor of Property where the property is located.

• If you encounter any technical difficulties or have any questions, please call or e-mail Arlene Hailey at 615.401.7883 or Arlene.Hailey@cot.tn.gov.