Tennessee Code 11-7-108 – Exemption from taxes
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Terms Used In Tennessee Code 11-7-108
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
- Trust fund: means the Tennessee heritage conservation trust fund. See Tennessee Code 11-7-102
Real property in which the trust fund acquires a fee simple interest for the state shall be exempt from all state and local property taxes.