Amends TCA Section 67-5-212.
Tennessee HB2406 amends TCA Section 67-5-212 to increase the property tax exemption limit for certain nonprofit entities to a maximum of 400 acres. This change affects nonprofit organizations that own property, allowing them to benefit from a larger exemption on their property taxes. The key provision of the bill is the adjustment of the acreage limit for the exemption, which aims to provide greater financial relief to qualifying nonprofits.
Tennessee HB2406 amends TCA Section 67-5-212 to increase the property tax exemption limit for certain nonprofit entities to a maximum of 400 acres. This change affects nonprofit organizations that own property, allowing them to benefit from a larger exemption on their property taxes. The key provision of the bill is the adjustment of the acreage limit for the exemption, which aims to provide greater financial relief to qualifying nonprofits.
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