Tennessee HB2409 amends property tax laws to adjust assessments for certain real estate interests.
Tennessee HB2409 modifies the assessment of property taxes for specific real estate interests. It specifies that mineral interests and other non-soil product interests in real property are assessed to the owner, separate from other interests. This applies unless the lessee has a lawful agreement for payments in lieu of taxes with the state or a local government, or if the lessee is a corporate instrumentality of a housing authority promoting affordable housing. The changes take effect upon becoming law.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.