Tennessee Code Title 7. Consolidated Governments and Local Governmental Functions and Entities § 7-64-102

(a) In the event the taxpayer's principal residence is on a farm or a parcel of land greater than one (1) acre, the tax deferral granted by this part shall only apply to the principal residence and no more than one (1) acre of land.

(b) The tax deferral granted by this part shall apply to no more than sixty thousand dollars ($60,000) of the appraised fair market value, as determined from the records of the county assessor of property.

(b) Deleted by 1998 Pub.Acts, c. 803, § 2.