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.
Structure 2021 Tennessee Code
Chapter 5 - County and Municipal Airports
§ 42-5-102. Chapter Definitions
§ 42-5-104. Acquisition of Existing Airports
§ 42-5-105. Establishment of Airports on Public Waters and Reclaimed Lands
§ 42-5-106. Limitation on Design and Operation of Air Navigation Facilities
§ 42-5-107. Public Purpose of Airports
§ 42-5-109. Disposal of Airport Property
§ 42-5-112. Delegation of Authority to Airport Officer or Board
§ 42-5-113. Regulations and Jurisdiction — Scope — Conformity to Federal and State Law
§ 42-5-115. Bond Issues — Notes — Financing Acquisition Costs and Improvements
§ 42-5-117. Bond Issues Ratified and Validated — Bonding Power Supplemental
§ 42-5-118. Application of Airport Revenues and Sale Proceeds
§ 42-5-123. Airport Property and Income Exempt From Taxation
§ 42-5-124. Supplementary Authority