Plain English Breakdown
The official source material does not provide specific details about additional funding or impacts on local government, leaving some aspects of the bill's effects uncertain.
Property Tax Relief for Disabled Veterans
This bill increases property tax relief for disabled veteran homeowners by raising the cap on home value from $175,000 to $250,000.
What This Bill Does
- Changes Tennessee law to increase the amount of property tax relief for disabled veterans who own homes.
- Raises the limit on the full market value of a veteran's home that qualifies for this relief from $175,000 to $250,000.
Who It Names or Affects
- Disabled veterans who own homes in Tennessee and qualify for property tax relief.
Terms To Know
- Ad Valorem Tax
- A type of tax based on the value of a property, like real estate taxes.
- Property Tax Relief
- Help from the government to reduce or pay for some of the property taxes that homeowners owe.
Limits and Unknowns
- The bill does not specify how much more money will be spent on this relief.
- It is unclear how local governments might be affected by these changes.