SB0002 - Tennessee - Elderly Persons, Local Government, General, Taxes, Taxes, Real Property

Companion Bill HB1033. Taxes, Real Property - Enacts the "Property Tax Freeze Act." - Amends TCA Title 67, Chapter 5, Part 7. Fiscal Summary for *SB0002 / HB1033Increase Local Govt. Expenditures - Exceeds $100,000/One-Time/Permissive Exceeds $1,000,000/Recurring/Permissive Decrease Local Govt. Revenues - Exceeds $1,000,000/Permissive Bill Summary for *SB0002 / HB1033 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 legislation stating that the legislative body of any county or city may provide property tax relief on principal [...]

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