Veterans - As introduced, removes the market value cap used for calculating property tax relief on the primary residence for disabled veterans who are eligible for property tax relief and requires the state to fully reimburse such veterans for local property taxes paid for a given tax year on that property. - Amends TCA Title 67, Chapter 5, Part 7.

HB 48 would change Tennessee's property tax relief for disabled veterans by removing a market value cap on the primary residence. It requires the state to fully reimburse eligible disabled veterans for all local property taxes paid on their primary home each year, instead of capping the relief at a specific property value. This applies to veterans already qualifying for property tax relief under current law. The change takes effect for tax years beginning July 1, 2025, and is funded through state general funds.