Comptroller warns property‑tax relief reserve will be exhausted within two years without action

The Comptroller of the Treasury told the Senate Finance, Ways and Means Committee on Feb. 18 that Tennessee’s property‑tax relief program for low‑income elderly, disabled residents and 100% service‑connected disabled veterans is being funded in part from reserves and will require additional recurring appropriations or program changes within a two‑to‑three year window to avoid proration.

Jason Mumpower, comptroller of the treasury, said the program’s current FY26 appropriation is $41.2 million but that the program will pay an estimated $47.3 million in benefits this fiscal year. “By FY2027 … we will need an additional $10.3 million in order to fund the program,” Mumpower said, describing current enrollment growth and trends pointing to continued increases in claims, particularly in the…