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TN SB0681
TN SB0681AN ACT to amend Tennessee Code Annotated, Section 67-5-704, relative to property tax relief for veterans with disabilities.
summary
Introduced
01/31/2025
01/31/2025
In Committee
Crossed Over
Passed
Dead
Introduced Session
114th General Assembly
Bill Summary
As introduced, increases the amount of the reimbursement that is paid under the provisions for property tax relief for disabled veteran homeowners from the first $175,000 of the full market value of the home to the first $250,000 of the full market value. - Amends TCA Section 67-5-704.
AI Summary
This bill amends Tennessee's property tax relief program for disabled veterans by increasing the maximum home value eligible for tax reimbursement from $175,000 to $250,000. Under the existing law, disabled veterans could receive property tax relief for the first $175,000 of their home's full market value, but this bill expands that threshold to $250,000, effectively providing more financial assistance to disabled veterans by reducing their property tax burden. The change will take effect on July 1, 2025, and applies to the existing statute in Tennessee Code Annotated, Section 67-5-704. By raising the reimbursement limit, the bill aims to provide additional economic support to veterans with disabilities who own homes in Tennessee, recognizing their service and helping to ease their financial challenges.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (2)
Last Action
Placed on Senate Finance, Ways, and Means Committee calendar for 4/21/2025 (on 04/17/2025)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0681&ga=114 |
| Fiscal Note - SB0681 | https://www.capitol.tn.gov/Bills/114/Fiscal/SB0681.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/SB0681.pdf |
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