SB1579 - Tennessee: Constitutional Amendments, County Government, Elderly Persons, Municipal Government, Taxes, Real Property

Companion Bill HB2137. Taxes, Real Property - Implements the recently adopted constitutional amendment that authorizes counties and cities to implement programs of tax relief for certain elderly homeowners. - Amends TCA Section 67-5-705. Fiscal Summary for *SB1579 / HB2137Increase Local Govt. Expenditures - Exceeds $100,000/ One-Time/Permissive Exceeds $1,000,000/Recurring/Permissive Decrease Local Govt. Revenues - Exceeds $1,000,000 Bill Summary for *SB1579 / HB2137 The Constitution of the State of Tennessee provides for taxation of real property and authorizes the state legislature to provide tax relief to elderly low-income taxpayers through payments by the state to reimburse all or part of the county or city taxes paid by such persons on owner-occupied residential property. In 1979, the general assembly enacted [...]

show full description