(a) When a scenic easement is held by a public body for the purposes of this chapter, the subject real property shall be assessed on the basis of the true cash value of the property or as otherwise provided by law, less such reduction in value as may result from the granting of the scenic easements.
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Terms Used In Tennessee Code 11-15-105

  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Public body: means the state, counties, municipalities, metropolitan governments, the historic commission of any state, county, municipal, or metropolitan government, and park or recreation authorities. See Tennessee Code 11-15-102
  • Scenic easement: means an easement in land which:
    (i) Is held for the benefit of the people of Tennessee. See Tennessee Code 11-15-102
(b)

(1) The value of the easement interest held by the public body shall be exempt from property taxation to the same extent as other public property.
(2) If a scenic easement in a structure is held by a public body for the term of a person’s life or a term of years, the exemption shall apply for the length of the term and no longer.
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