Green Energy Property Tax Assessment (Tennessee)

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
References	DSIREDatabase of State Incentives for Renewables and Efficiency

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.