Senate Bill 1326 amends Tennessee Code Annotated, specifically Section 67-5-701, to provide property tax relief for elderly individuals aged eighty-five (85) years or older. The new provision allows these taxpayers, who have received property tax relief for at least five consecutive years, to bypass the requirement of submitting a complete application or reporting their income for continued participation. This exemption is contingent upon their annual income not exceeding the adjusted income threshold outlined in Section 67-5-702(a)(2) and their compliance with other non-income-related eligibility criteria.

Additionally, the bill mandates the state board of equalization, in collaboration with the comptroller of the treasury and county property assessors, to create a simplified reapplication process for eligible taxpayers. This process can be completed online or via mail, allowing taxpayers to confirm their eligibility by checking appropriate boxes rather than submitting extensive documentation. The act is set to take effect upon becoming law, emphasizing the importance of supporting elderly citizens in maintaining their property tax relief benefits.

Statutes affected:
Introduced: 67-5-701