Amends TCA Title 67, Chapter 5, Part 7.
Tennessee SB0012 amends existing law to increase the property tax reimbursement for disabled veterans from the first $175,000 to the first $200,000 of the full market value of their residence. This change affects disabled veterans who qualify under specific criteria related to their service-connected disabilities. The bill outlines that for tax years beginning on or after July 1, 2025, the effective assessed value for reimbursement calculations will be based on the increased property value threshold.
Tennessee SB0012 amends existing law to increase the property tax reimbursement for disabled veterans from the first $175,000 to the first $200,000 of the full market value of their residence. This change affects disabled veterans who qualify under specific criteria related to their service-connected disabilities. The bill outlines that for tax years beginning on or after July 1, 2025, the effective assessed value for reimbursement calculations will be based on the increased property value threshold.
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Walley, Page
114th General Assembly
December 10, 2024
January 15, 2025
Passed on Second Consideration, refer to Senate State and Local Government Committee