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Bill > HB0436
TN HB0436
TN HB0436AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 5, Part 7, relative to property tax relief.
summary
Introduced
01/28/2025
01/28/2025
In Committee
04/09/2025
04/09/2025
Crossed Over
Passed
Dead
Introduced Session
114th General Assembly
Bill Summary
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.
AI Summary
This bill modifies the property tax relief program for disabled veterans in Tennessee by changing how the tax reimbursement is calculated. Specifically, the bill revises the method for determining tax relief by requiring that the assessed value of the first $175,000 of a disabled veteran's residential property be multiplied directly by the ad valorem tax rate (the local property tax rate) in that jurisdiction. Previously, the calculation involved an additional adjustment to reflect the relationship between appraised and market value. The bill maintains the existing provisions that provide reimbursement for property taxes on up to $175,000 of a disabled veteran's home's full market value, with the assessed value still determined by multiplying the full market value by 25%. The changes will take effect for tax years beginning on or after July 1, 2025, which should simplify the tax relief calculation and potentially provide more straightforward property tax relief for eligible disabled veterans.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (13)
John Crawford (R)*,
Jeff Burkhart (R),
Clay Doggett (R),
Monty Fritts (R),
David Hawk (R),
Dan Howell (R),
Michael Lankford (R),
Mary Littleton (R),
Jake McCalmon (R),
Michele Reneau (R),
Iris Rudder (R),
Lowell Russell (R),
Todd Warner (R),
Last Action
Sponsor(s) Added. (on 04/09/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB0436&ga=114 |
| Fiscal Note - HB0436 | https://www.capitol.tn.gov/Bills/114/Fiscal/HB0436.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/HB0436.pdf |
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