66-27-205 - Separate titles and taxation. - Tennessee Statutes

66-27-205. Separate titles and taxation.

(a)  If there is any unit owner other than a declarant, each unit that has been created, together with its interest in the common elements, constitutes for all purposes a separate parcel of real estate.

(b)  If there is any unit owner other than a declarant, each unit must be separately taxed and assessed, and no separate tax or assessment may be rendered against any common elements.

(c)  If there is no unit owner other than a declarant, the real estate comprising the condominium may be taxed and assessed in any manner provided by law.

[Acts 2008, ch. 766, § 1.]