Tennessee Code 7-60-215 – Tax exemption for participating county
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Terms Used In Tennessee Code 7-60-215
- County: means any county or any metropolitan form of government in this state having a population of two hundred thousand (200,000) or more, according to the 1980 federal census or any subsequent federal census, that by resolution has made the findings and determinations required by §. See Tennessee Code 7-60-103
- Home: means residential housing, including real property and improvements on real property, consisting of one (1) or more dwelling units, including, but not limited to, condominium units, owned by one (1) person or family of lower or moderate income that occupies or intends to occupy one (1) of such units. See Tennessee Code 7-60-103
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- notes: means the bonds and notes respectively authorized to be issued by counties under this chapter. See Tennessee Code 7-60-103
- State: means the state of Tennessee. See Tennessee Code 7-60-103
All home mortgages and notes or other obligations of lending institutions executed pursuant to this chapter and held by or on behalf of the county and the revenues and receipts derived by such county from the mortgages, notes and other obligations shall be exempt from all taxation in this state. The exemption contained in this section shall not be construed as an exemption from the payment of any mortgage recording or registration fees otherwise required by law.