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?