Tennessee § 42-5-123 Airport property and income exempt from taxation

Tennessee Statutes

§ 42-5-123 — Airport property and income exempt from taxation

Tennessee § 42-5-123

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This text of Tennessee § 42-5-123 (Airport property and income exempt from taxation) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 42-5-123 (2026).

Text

Any property in this state acquired by a municipality for airport purposes pursuant to this chapter, and any income derived by such municipality from the ownership, operation or control of that property, shall be exempt from taxation to the same extent as other property used for public purposes. Any municipality is authorized to exempt from municipal taxation any property, acquired within its boundaries by a public agency of another state for airport purposes, and any income derived from such property, to the extent that the other state authorizes similar exemptions from taxation to municipalities of this state.

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Any property in this state acquired by a municipality for airport purposes pursuant to this chapter, and any income derived by such municipality from the ownership, operation or control of that property, shall be exempt from taxation to the same extent as other property used for public purposes. Any municipality is authorized to exempt from municipal taxation any property, acquired within its boundaries by a public agency of another state for airport purposes, and any income derived from such property, to the extent that the other state authorizes similar exemptions from taxation to municipalities of this state.