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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.

114th Regular Session (2025-2026) Introduced by Rusty Crowe

SB 651 simplifies disabled veterans' property tax relief calculation by applying the full ad valorem tax rate to the first $175,000 of assessed value instead of using an adjusted rate.

Placed on Senate Finance, Ways, and Means Committee calendar for 4/20/2026
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Bill Summary · SB 651

Legislative bill overview

SB 651 modifies Tennessee's tax relief formula for disabled veterans by simplifying how their property tax exemption is calculated. Instead of applying an adjusted tax rate based on the relationship between appraised and market values, the bill would apply the standard ad valorem tax rate directly to the first $175,000 of a veteran's property's full market value.

Why is this important

This change affects disabled veterans' annual property tax bills in Tennessee. The simplified calculation method could increase or decrease their tax relief depending on how assessed values compare to market values in their specific jurisdiction, making the benefit more predictable but potentially altering its value across different counties.

Potential points of contention

  • Fiscal impact uncertainty: The bill doesn't specify whether this change increases or decreases total tax relief for veterans, making it unclear if it benefits or disadvantages this population
  • County-by-county variation: Different jurisdictions assess property differently; removing the adjustment factor may create inequitable outcomes across counties
  • Retroactive application: No indication whether the new formula applies prospectively only or to existing exemptions, potentially affecting current beneficiaries' expectations

Compiled from official sources — confirm details with the bill’s official record.

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