Senate Bill 681 proposes an amendment to Tennessee Code Annotated, Section 67-5-704, which pertains to property tax relief for veterans with disabilities. The bill seeks 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 aims to provide greater financial support to disabled veterans by allowing them to benefit from property tax relief on a higher value of their property.

The bill is set to take effect on July 1, 2025, contingent upon the public welfare. This adjustment reflects an effort to enhance the financial assistance available to veterans with disabilities, ensuring that more individuals qualify for property tax relief under the updated threshold.

Statutes affected:
Introduced: 67-5-704