Property taxes in Tennessee are assessed and collected by local governments. Residential and real estate are assessed at 25 percent of the assessment. Tax rates are set by county commissions and city governments and are expressed in terms of weight per $100 of assessed value. You can find tax information for any county in the Tennessee Treasury Department. Tax breaks in Tennessee for certain qualified property owners, including persons 65 or older, disabled and disabled veterans. The tax relief in Tennessee is not an exemption, but rather a refund of wages through the state to property owners who qualify.
Elderly and disabled homeowners
Tennessee residents 65 or older can qualify for tax relief for up to $25,000 of the market value of their principal residence. To qualify, the annual income of the entire owner, spouse and other property owners is not more than $26,830. The income of the spouse should be considered, whether he is the owner or not. For this, all income is taken into account, including retirement income.
Disabled homeowners who claim tax assistance must be deemed totally permanently disabled by the Social Security Administration or qualifying agency. Tax relief is also available for up to $25,000 of the principal residence market, and the income requirements are the same as for seniors.
disabled veterans
Tennessee homeowners who are veterans with a severe and permanent service-connected disability can claim tax relief up to $175,000 for their primary residence. The determination of eligibility is based on information from the Veterans Administration. Spouses of surviving disabled veterans may also qualify for this property tax relief if they were not married.
How to claim tax relief
To claim this property tax relief, you must contact your county commissioner and local city tax collection office if you live within the city limits. You can find information on county assessors and supervisors’ local offices and contacts on the Tennessee Attorney General’s website.
Taxes Cool
Tennessee homeowners age 65 or older could also qualify for tax on their principal residence. Under this program, property taxes are limited to the amount of tax you owe in the first qualifying year. From then on, your taxes will change, even if it is increased. The amount of taxes you pay could only change if you make an improvement to the property that increases its value or if you sell your home and buy another home.
This specific tax is frozen at the option of the local county or municipality, so if I live in the county or municipality that created this fund. Each county or municipality may have their income requirements to be eligible for property tax freezes. You need to see the county and city tax-assessor contact your contact, if the tax is valid where you live and what you need to do this let’s claim property tax relief.
Sources:
Assessors and administrators – Tennessee Treasury Board
Assessment Information for Each County – Tennessee Treasury Department
General Property Tax Relief Questions & Answers – Tennessee Treasury Department
Tax Relief – Elderly or Disabled Homeowner – Tennessee Treasury Department
Tax Relief – Disabled Veteran Homeowner – Tennessee Treasury Department
Tennessee State Property Tax Freeze Program – Tennessee Tax Attorney
Report:
- Things in the Tennessee Tax Climate: www.taxfoundation.org/research /topic/59. html
- Property tax reduction and assistance program: www .tennessee.gov /tacir/PDF_FILES/Taxes/property%20tax%20reduction.pdf
- Tennessee County Trustees Association: www.tennesseetrustee.com/
