(a) Subject to the applicable requirements of § 67-5-212, real and tangible personal property owned and used by an organization as a museum shall have a one hundred percent (100%) exemption from property taxation, if:

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Terms Used In Tennessee Code 67-5-226

  • Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
  • Personal property: All property that is not real property.
  • Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • real property: include lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. 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
(1) The organization owns the real property for which the exemption is sought;
(2) The organization owning the property is exempted from the payment of federal income taxes by § 501(c)(3) of the Internal Revenue Code (26 U.S.C. § 501(c)(3));
(3) The property is located within the limits of an incorporated municipality;
(4) The exempt organization actually operates the museum;
(5) The museum displays local, regional and state crafts and items of historical interest; and
(6) The board members of the organization receive no compensation for their services.
(b) Any owner of real or personal property claiming exemption under this section shall be required to file an application for exemption with the state board of equalization on the same form and in the same manner prescribed in § 67-5-212(b).
(c)

(1) Notwithstanding § 67-5-212 or any other law to the contrary, real property and tangible personal property, owned or possessed by an organization and used exclusively by that organization for an educational museum, shall have a one-hundred-percent exemption from property taxation, if:

(A) The educational museum is located upon land owned by state, county or municipal government, or an agency or entity thereof, including any municipal or regional airport authority;
(B) The educational museum exhibits historic artifacts and other items of historical significance and instruction;
(C) The educational museum is designated, by Tennessee law, as an official state repository and archive;
(D) The organization is exempt from payment of federal income taxes pursuant to § 501(c)(3) of the Internal Revenue Code;
(E) The organization’s board members receive no compensation for serving on the board; and
(F) The organization’s employees and volunteers actually manage and perform the daily operations and programs of the educational museum.
(2) Any organization claiming exemption under subdivision (c)(1) shall file an application for exemption with the state board of equalization, on the same form and in the same manner as prescribed in § 67-5-212(b).
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