SB2411 amends Tennessee property tax laws to enhance homestead exemptions and restrict property sales for tax debt.
SB2411 amends Tennessee Code Annotated, Title 26 and Title 67, to strengthen homestead exemptions for U.S. citizens. It ensures the full value of a principal residence is exempt from property tax debt and prevents the sale of a principal residence used for ten years or more to satisfy tax debt. Owners must provide evidence of residency and citizenship to prevent such sales. The bill also sets the appraised value of residential properties based on the most recent sale price or financial institution appraisal until the property is sold or used as loan collateral.
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- Core Provisions
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- Legal Framework
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