The limitation on value of the principal place of residence shall be under fifty thousand dollars ($50,000) and shall be determined by the appraised fair market value as it appears on the records of the county assessor and not the reduced assessment.
Tenn. Code Ann. § 7-64-206
Limitation on value of principal residence. [For contingent repeal of this section, see the Compiler's Notes.]
Acts 1980, ch. 659, § 6.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.