Senate Bill 681 aims to amend Tennessee Code Annotated, Section 67-5-704, to enhance property tax relief for veterans with disabilities. The bill proposes to increase the property value threshold for tax relief from "one hundred seventy-five thousand dollars ($175,000)" to "two hundred fifty thousand dollars ($250,000)." This change is intended to provide greater financial support to disabled veterans by allowing them to benefit from tax relief on a higher value of property.

The act is set to take effect on July 1, 2025, ensuring that the adjustments to the property tax relief provisions will be implemented in a timely manner, in consideration of the public welfare.

Statutes affected:
Introduced: 67-5-704