Taxes, Real Property - As introduced, adds an exception to the requirement that mineral and other interests in real property are assessed to the owner of the real property. - Amends TCA Title 67, Chapter 5.

Summary

The bill changes Tennessee property‑tax rules so that mineral or other non‑soil interests owned separately from land are normally assessed to the landowner, but creates two exceptions. If a lessee has a payment‑in‑lieu‑of‑taxes agreement with the state or a local government after April 30 2019, or if the lessee is a housing‑authority‑related corporation leasing after April 30 2026 for affordable‑housing use, the tax is assessed only to the government entity and receives all exemptions. This shifts the tax burden away from private owners in those cases.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share