Green Energy Property Tax Assessment (Tennessee)
This is the approved revision of this page, as well as being the most recent.
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Green Energy Property Tax Assessment|
|Incentive Type||Property Tax Incentive|
|Applicable Sector||Commercial, Industrial, Residential, Utility, Investor-Owned Utility, Rural Electric Cooperative|
|Eligible Technologies||Photovoltaics, Wind, Geothermal Electric, Hydrogen|
|Energy Category||Renewable Energy Incentive Programs|
|Amount||Depends upon sector|
|Equipment Requirements||Must be certified green energy production facility|
|Program Administrator||Tennessee Comptroller of the Treasury|
|References||DSIREDatabase of State Incentives for Renewables and Efficiency|
Tennessee offers a special ad valorem property tax assessment for certified green energy production facilities. Tennessee Code Annotated § 67-5-601 (e)-(f) defines the sound, intrinsic and immediate value of alternative green source properties when they are initially appraised. SB 1000 stipulated that the assessed property value of all certified green energy production facilities (as defined in Tenn. Code § 67-4-2007) may not exceed 1/3 of total installed costs; however, there are differences in the valuation percentages of the various sources of green energy.
TDEC defines and certifies facilities based upon production of electricity using clean energy technology for use and consumption off the premises. Clean energy technology is defined as technology used to generate energy from geothermal, hydrogen, solar, and wind sources. The effective date of the property valuation provided is January 1st of the year for which the valuation is claimed. A copy of the facility certification must be provided by the property owner to the comptroller's office by March 1st of the same year. The comptroller must advise the assessor of the locations of any certified green energy property and must advise the assessor as to whether the property should be assessed locally or centrally.
|Contact Name||Gary T. Harris, CAE|
|Department||Comptroller of the Treasury|
|Division||Office of State Assessed Properties|
|Address||James K Polk State Office Building, Suite 1700|
|Address 2||505 Deaderick Street|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Public Chapter 297|
|Authority 2:||Tenn. Code § 67-5-601 et seq.|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.