Green Energy Property Tax Assessment (Tennessee)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Tennessee

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
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs
Amount Depends upon sector






Equipment Requirements Must be certified green energy production facility
Start Date 2010-06-30


















Program Administrator Tennessee Comptroller of the Treasury

Date added to DSIRE 2012-07-06
Last DSIRE Review 2014-12-03



References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


Summary

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.


Incentive Contact

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
Place Nashville, Tennessee
Zip/Postal Code 37243-1402
Phone (615) 741-0150


Email Gary.Harris@cot.tn.gov

     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: Public Chapter 297
Date Effective 2013-01-01



Authority 2: Tenn. Code § 67-5-601 et seq.
Date Effective 2013-01-01



















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency"