(a)

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Terms Used In Tennessee Code 66-9-308

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • conservation easement: means an easement in land or structures which:
    (i) Is held for the benefit of the people of this state. See Tennessee Code 66-9-303
  • Exempt organization: includes any organization which has received a determination of exemption from the Internal Revenue Service under §. See Tennessee Code 66-9-303
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Public body: means the United States, states, counties, municipalities, metropolitan governments, the historic commission of any state, county, municipal, or metropolitan government, park or recreation authorities, and any other state, federal or local governmental entity. See Tennessee Code 66-9-303
(1) When a conservation easement is held by a public body or exempt organization for the purposes of this chapter, the subject real property shall be assessed on the basis of the true cash value of the property or as otherwise provided by law, less such reduction in value as may result from the granting of the conservation easements.
(2) The value of the easement interest held by the public body or exempt organization shall be exempt from property taxation to the same extent as other public property.
(3) If a conservation easement in a structure is held by a public body or exempt organization for the term of a person‘s life or a term of years, the exemption shall apply for the length of the term and no longer.
(b) The owner of the fee shall have all rights and powers to appeal any assessment of such interest on the same basis as provided by law for property tax assessment appeals.
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