Tennessee Senate Bill SB0012

Tennessee 2025-2026 Regular Session

• Introduced: 12/10/24

Caption

AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 5, Part 7, relative to property tax relief for veterans.

Summary

SB0012 increases the property tax relief threshold for veterans by amending Tennessee’s property tax relief provisions in Title 67, Chapter 5, Part 7. Specifically, it raises the dollar amount used in subdivisions (2), (3), and (4) of Tennessee Code Annotated § 67-5-704 from $175,000 to $200,000. The bill is framed as a veterans’ property tax relief measure and does not otherwise change the structure of the existing program. The bill takes effect July 1, 2025, and applies to tax years beginning on or after that date. In practical terms, it expands eligibility or maintains eligibility for more veterans whose property values fall within the updated cap, thereby affecting local property tax relief administration and the veterans who qualify for the benefit under state law.

Impact

This bill amends Tennessee Code Annotated § 67-5-704 to update the property value threshold used for veterans’ property tax relief from $175,000 to $200,000. The change affects the administration of the state’s veterans’ property tax relief program and may increase the number of veterans eligible for relief or preserve eligibility as property values rise. It has fiscal implications for local governments and the state program that administers the exemption/relief, but it does not create a new benefit category or alter the underlying eligibility framework beyond the higher cap.

Sentiment

The available record suggests generally favorable sentiment toward the bill, as it is a targeted tax-relief measure for veterans and there are no recorded committee objections, votes, or amendments in the provided materials. The bill’s purpose is straightforward and supportive of a recognized beneficiary group, which typically draws bipartisan approval. Because no transcripts or vote history are included, there is no evidence of significant opposition in the materials provided.

Contention

No specific points of contention are documented in the provided bill history or committee materials. Potential areas of concern, if raised, would likely involve the fiscal impact of expanding property tax relief and whether the higher threshold appropriately targets veterans in need. However, the record supplied does not show any member, committee, or stakeholder taking a formal opposing position.