House Bill 1687, sponsored by Hakeem, amends Tennessee Code Annotated, specifically Section 67-5-704(a), to increase the property tax relief threshold for veterans. The bill proposes to replace the existing limit of "one hundred seventy-five thousand dollars ($175,000)" with a new limit of "two hundred thousand dollars ($200,000)" in subdivisions (2), (3), and (4) of the section.

The act is set to take effect on July 1, 2026, and will apply to tax years beginning on or after that date, thereby providing enhanced financial relief to veterans in Tennessee regarding property taxes.

Statutes affected:
Introduced: 67-5-704(a), 67-5-704