Amends TCA Title 67, Chapter 5, Part 7.
Tennessee SB0651 amends the reimbursement process for disabled veterans regarding local property taxes on their residences. The bill specifies that, starting July 1, 2025, the full market value of the property will be determined by the property assessor, and changes the calculation of tax relief from using an adjusted tax rate to the ad valorem tax rate for the first $175,000 of assessed value. Additionally, it removes the provision that adjusts appraised value to reflect market value relationships as determined by the state board of equalization.
Tennessee SB0651 amends the reimbursement process for disabled veterans regarding local property taxes on their residences. The bill specifies that, starting July 1, 2025, the full market value of the property will be determined by the property assessor, and changes the calculation of tax relief from using an adjusted tax rate to the ad valorem tax rate for the first $175,000 of assessed value. Additionally, it removes the provision that adjusts appraised value to reflect market value relationships as determined by the state board of equalization.
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Crowe, Rusty
114th General Assembly
January 31, 2025
April 20, 2026
Placed on Senate Finance, Ways, and Means Committee calendar for 4/21/2026