Tennessee · 114th Regular Session (2025-2026) · Bill

SB 651: Taxes, Real Property - As introduced, revises the formula for calculating tax relief on real property owned by eligible disabled veterans so that in determining the amount of relief to such a taxpayer, the assessed value on the first $175,000 of full market value is to be multiplied by the ad valorem tax rate of the jurisdiction instead of by a rate that has been adjusted to reflect the relationship between appraised value and market value in that jurisdiction. - Amends TCA Title 67, Chapter 5, Part 7.

In committee Last action April 20, 2026: Placed on Senate Finance, Ways, and Means Committee calendar for 4/21/2026

Plain-language summary

SB 651 is a bill introduced in the Tennessee Senate on January 31, 2025. According to its official title, it concerns: Taxes, Real Property - As introduced, revises the formula for calculating tax relief on real property owned by eligible disabled veterans so that in determining the amount of relief to such a taxpayer, the assessed value on the first $175,000 of full market value is to be multiplied by the ad valorem tax rate of the jurisdiction instead of by a rate that has been adjusted to reflect the relationship between appraised value and market value in that jurisdiction. - Amends TCA Title 67, Chapter 5, Part 7. Primary sponsor: Rusty Crowe (Republican). Most recent recorded action (April 20, 2026): Placed on Senate Finance, Ways, and Means Committee calendar for 4/21/2026.

Sponsors

Primary sponsor: Rusty Crowe (Republican).