(a) The entire amount of money deposited in an individual’s personal or family checking or savings account and seven thousand five hundred dollars ($7,500) worth of personal household goods and furnishings, wearing apparel and other such tangible personal property in the hands of a taxpayer shall be exempt from taxation.

Terms Used In Tennessee Code 67-5-215

  • Minor: means any person who has not attained eighteen (18) years of age. See Tennessee Code 1-3-105
  • Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
  • Personal property: All property that is not real property.
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Taxpayer: means any owner of property subject to taxation or any party liable for property taxes. See Tennessee Code 67-5-105
(b) Where such property is owned jointly by a husband and wife, the exemption shall be fifteen thousand dollars ($15,000) and any exemption applying to any minor child of the family living at home and not used by the minor child personally may be applied to the total family household goods and furnishings, wearing apparel, and other such tangible personal property used by the family in common.
  Previous section
Next section  
 Part 2 Contents