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.

SB 1173 revises Tennessee's property tax relief program for elderly, low-income homeowners by creating age-based reimbursement tiers. It provides property tax reimbursements ranging from 10% (at age 65) up to 100% (age 74+), calculated as a percentage of taxes paid on the assessed property value. The bill sets a $400,000 cap on eligible property value (adjusted annually for inflation using the CPI), and requires the comptroller to publish annual updates on the cap amount. This directly affects eligible elderly homeowners aged 65+ with low income who own property valued under the inflation-adjusted cap.