Tennessee SB0651 amends property tax relief for disabled veterans by reimbursing them for local property taxes on their primary residences.

Tennessee SB0651 amends the state's property tax relief provisions to provide reimbursements to disabled veterans for local property taxes on their primary residences. The bill specifies that the reimbursement covers up to $175,000 of the property's full market value, calculated by the assessor. The reimbursement amount is determined by multiplying the assessed value of the first $175,000 by the ad valorem tax rate in the jurisdiction. This act applies to tax years beginning on or after July 1, 2025.

Tennessee SB0651 amends property tax relief for disabled veterans by reimbursing them for local property taxes on their primary residences.

Tennessee SB0651 amends the state's property tax relief provisions to provide reimbursements to disabled veterans for local property taxes on their primary residences. The bill specifies that the reimbursement covers up to $175,000 of the property's full market value, calculated by the assessor. The reimbursement amount is determined by multiplying the assessed value of the first $175,000 by the ad valorem tax rate in the jurisdiction. This act applies to tax years beginning on or after July 1, 2025.