Taxes, Real Property - As introduced, revises the property tax relief program for elderly, low-income homeowners to provide tiered property tax reimbursements based on the taxpayer's age. - Amends TCA Title 67, Chapter 5, Part 7.

HB 941 would increase property tax refunds for elderly, low-income homeowners in Tennessee based on age. It establishes tiered reimbursement rates: 10% of property taxes for 65-year-olds, increasing by 10% per year until reaching 100% for those 74 or older. The bill also sets a $400,000 cap on property value for eligibility (adjusted annually for inflation using the consumer price index), and requires the state comptroller to notify taxpayers of annual changes. This applies to tax years starting July 1, 2025, directly affecting qualifying elderly homeowners with low income.