Green Energy Property Tax Assessment

Last updated: August 29, 2019

Program Overview

Implementing Sector:State
Category:Financial Incentive
State:Tennessee
Incentive Type:Property Tax Incentive
Administrator:Tennessee Comptroller of the Treasury
Start Date:06/30/2010
Eligible Renewable/Other Technologies:Geothermal Electric, Solar Photovoltaics, Wind (All), Hydrogen, Wind (Small)
Incentive Amount:Depends upon sector
Equipment Requirements:Must be certified green energy production facility

Authorities

Name:Tenn. Code § 67-5-601 et seq.
Effective Date:01/01/2013
Name:Public Chapter 297
Effective Date:01/01/2013

Incentives

Technologies:Hydrogen, Wind (Small)
Sectors:Commercial, Industrial, Investor-Owned Utility, Municipal Utilities, Residential, Cooperative Utilities
Parameters:The Incentive has a maximum of 33.00% of cost
Technologies:Solar Photovoltaics
Sectors:Commercial, Industrial, Investor-Owned Utility, Municipal Utilities, Residential, Cooperative Utilities
Parameters:The incentive has a maximum of 12.50 % of cost

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 for wind, 12.5% of installed costs for solar, and for other green sources of energy, property should not initially exceed its appropriate capacity factor as determined by the States Board of Equilization in consultation with the department of environment and conservation.

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.

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