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I just moved from Tennessee to Michigan. We are leasing the place in TN to a friend and purchased a new primary residence in Michigan. In Michigan, we have a principal residence exemption which means we pay far less for our primary residence.

However, I believe Michigan requires that we give up any exemption like this in other states. Is there anything I might need to rescind in TN? When searching for residency exemptions, I mainly came across bankruptcy homestead exemption and exemptions on property taxes for seniors.

Does TN have any property tax exemption for a primary residence?

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There's no homestead property tax exemption in TN.

According to the TN comptroller site:

Exemptions

Exemptions are available for religious, charitable, scientific, and nonprofit educational uses, governmental property, and cemeteries. Most nongovernmental exemptions require a one-time application and approval by the State Board of Equalization (615/401-7883) and there is a May 20 application deadline. There is no "homestead" exemption, but low income elderly and disabled persons and disabled veterans may qualify for a rebate of taxes on a specified portion of the value of property used as their residence. Business inventories held for sale or exchange by merchants subject to the business gross receipts tax, are not assessable. Farm and residential tangible personal property are not assessable.

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