ASK THE REALTOR

Q:  We have heard something about tax savings if you own enough land in Tennessee. How do we find out more about that?

 

A:  The Greenbelt Law applies to 15+ acres of land used for one of the following: land producing $1,500 a year in agricultural income; land farmed by an immediate family member for the past 25 years; or whether the land was forested with the intent to someday sell some of the timber. There are other open space conditions that may also apply. You do have to apply for Greenbelt status on your property with your local tax assessor. It isn’t automatic. It is recalculated every 3–6 years, so please check with your local tax assessor’s office. Greenbelt status is a fantastic way to save significant tax dollars and preserve our beautiful Tennessee heritage!

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.