On June 16, Metro Nashville Council members approved the city’s fiscal year 2020-21 operating budget that will raise property taxes for the first time since 2012. The budget, which goes into effect July 1, includes a 34% property tax rate increase, or $1.066 per $100 of assessed value. This means that if you own a home that has an assessed value of around $250,000 you will pay about $666.25 more per year.
However, Tennessee state law provides property tax-relief and property tax freeze programs.
The Property Tax Freeze program is open to homeowners aged 65 and older and can freeze the tax due on their property at the amount for the year that they qualify, even when the tax rates increase. To be eligible they must have been 65 by December 31st of the tax year that they are applying. They must present:
-Proof of age (birth certificate, Medicare card, driver’s license, passport, etc.)
-Proof of ownership (current tax bill or receipt, recorded deed, etc.)
-Evidence property is principal address (voter registration card, etc.)
-Incomes records must be provided showing the total income for all of the owners of the property during the 2018 tax year does not exceed $42,620 for Davidson County.
You can call the trustee’s office at 615-862-6330 or visit their website at this link.
Tennessee state law provides property tax relief for low-income elderly or disabled homeowners, as well as disabled veteran homeowners or their surviving spouses. The income cap for elderly or disabled homeowners is $29,860. There is no income cap for veterans, disabled veterans, or their spouses. For more details on eligibility, please see this brochure provided by the State.
If you think you qualify or are not sure, PLEASE call the Trustee’s office at 615-862-6330.