Taxes, Real Property - As introduced, revises the formula for calculating tax relief on real property owned by eligible disabled veterans so that in determining the amount of relief to such a taxpayer, the assessed value on the first $175,000 of full market value is to be multiplied by the ad valorem tax rate of the jurisdiction instead of by a rate that has been adjusted to reflect the relationship between appraised value and market value in that jurisdiction. - Amends TCA Title 67, Chapter 5, Part 7.

Tennessee · 114 session · senate

SB 651Taxes, Real Property - As introduced, revises the formula for calculating tax relief on real property owned by eligible disabled veterans so that in determining the amount of relief to such a taxpayer, the assessed value on the first $175,000 of full market value is to be multiplied by the ad valorem tax rate of the jurisdiction instead of by a rate that has been adjusted to reflect the relationship between appraised value and market value in that jurisdiction. - Amends TCA Title 67, Chapter 5, Part 7.

Status: In committee
Latest action: 2026-04-20 — Placed on Senate Finance, Ways, and Means Committee calendar for 4/21/2026
Primary sponsor: Crowe