Tennessee SBOE Reduces Property Tax Valuation of Affordable Housing Apartment Complex

The Tennessee State Board of Equalization (SBOE) issued a decision in an appeal of a property tax valuation involving a low-income housing tax credit program apartment complex. The evidence presented by both parties supported a value lower than the original value as confirmed by the local board and the assessed values for each subsequent tax year. The SBOE lowered the values for 2019 through 2022 tax years. [Tenn. State Bd. of Equalization, Case No. 53.02-232792J, 03/18/24]

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