# Tenn. Code Ann. § 67-5-210: Real property owned and used by nonprofit economic or charitable development organization - Requirements

> Tennessee · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-210

## Section

- **Citation:** Tenn. Code Ann. § 67-5-210
- **Heading:** Real property owned and used by nonprofit economic or charitable development organization - Requirements
- **Jurisdiction:** Tennessee
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** TN Code / Title 67 / Chapter 5 / Section 67-5-210

## Text

(a) Subject to the general requirements of § 67-5-212 , real property owned and used by a nonprofit economic or charitable development organization shall be eligible for property tax exemption as a charitable use of property when the provisions of this section are met. Real property owned by a nonprofit entity that is exempt from federal income taxation under § 501(a) of the Internal Revenue Code ( 25 U.S.C. § 501(a) ) as an organization described in § 501(c)(3) (§ 26 U.S.C. § 501(c)(3) ), and that is engaged in economic development, shall be eligible for property tax exemption to the extent the property is used: (1) To expand entrepreneurship in the community; (2) To commercialize technologies into scalable businesses; (3) To provide affordable office or lab space and shared meeting rooms; (4) To provide services, including accelerator programming and business training; and (5) To provide supporting facilities for parking, delivery, storage, and access, as well as expansion space for the facilities described in subdivisions (a)(1)-(4). (b) This section shall apply only to a nonprofit entity that has been in continual operation for not less than ten (10) years from May 18, 2015, and that has executed an economic development mission for not less than ten (10) years from May 18, 2015. (c) Any owner of real property claiming exemption under this section shall be required to file an application for exemption with the state board of equalization on the same form and in the same manner prescribed in § 67-5-212(b) . (d) This section shall apply only in a county containing a research hospital, as defined by § 63-6-204(f)(7)(I) . Added by 2015 Tenn. Acts, ch. 456, s 1, eff. 5/18/2015.
(a) Subject to the general requirements of § 67-5-212 , real property owned and used by a nonprofit economic or charitable development organization shall be eligible for property tax exemption as a charitable use of property when the provisions of this section are met. Real property owned by a nonprofit entity that is exempt from federal income taxation under § 501(a) of the Internal Revenue Code ( 25 U.S.C. § 501(a) ) as an organization described in § 501(c)(3) (§ 26 U.S.C. § 501(c)(3) ), and that is engaged in economic development, shall be eligible for property tax exemption to the extent the property is used: (1) To expand entrepreneurship in the community; (2) To commercialize technologies into scalable businesses; (3) To provide affordable office or lab space and shared meeting rooms; (4) To provide services, including accelerator programming and business training; and (5) To provide supporting facilities for parking, delivery, storage, and access, as well as expansion space for the facilities described in subdivisions (a)(1)-(4).
(1) To expand entrepreneurship in the community;
(2) To commercialize technologies into scalable businesses;
(3) To provide affordable office or lab space and shared meeting rooms;
(4) To provide services, including accelerator programming and business training; and
(5) To provide supporting facilities for parking, delivery, storage, and access, as well as expansion space for the facilities described in subdivisions (a)(1)-(4).
(b) This section shall apply only to a nonprofit entity that has been in continual operation for not less than ten (10) years from May 18, 2015, and that has executed an economic development mission for not less than ten (10) years from May 18, 2015.
(c) Any owner of real property claiming exemption under this section shall be required to file an application for exemption with the state board of equalization on the same form and in the same manner prescribed in § 67-5-212(b) .
(d) This section shall apply only in a county containing a research hospital, as defined by § 63-6-204(f)(7)(I) .
Added by 2015 Tenn. Acts, ch. 456, s 1, eff. 5/18/2015.

## Nearby sections

- [Tenn. Code Ann. § 67-5-101 Property subject to tax generally](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-101.md)
- [Tenn. Code Ann. § 67-5-102 Taxation by county](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-102.md)
- [Tenn. Code Ann. § 67-5-103 Taxation by municipality](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-103.md)
- [Tenn. Code Ann. § 67-5-104 Locality does not meet municipality requirements](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-104.md)
- [Tenn. Code Ann. § 67-5-105 Chapter definitions](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-105.md)
- [Tenn. Code Ann. § 67-5-201 Real property transferred between exempt and nonexempt persons](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-201.md)
- [Tenn. Code Ann. § 67-5-202 Trust estates](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-202.md)
- [Tenn. Code Ann. § 67-5-203 Government property](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-203.md)
- [Tenn. Code Ann. § 67-5-204 Public ways](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-204.md)
- [Tenn. Code Ann. § 67-5-205 Government bonds and notes](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-205.md)
- [Tenn. Code Ann. § 67-5-206 Housing authorities](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-206.md)
- [Tenn. Code Ann. § 67-5-207 Religious, charitable, scientific, educational institutions](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-207.md)
- [Tenn. Code Ann. § 67-5-208 Recycling waste products](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-208.md)
- [Tenn. Code Ann. § 67-5-209 Private act hospital authorities](https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-209.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_TN_T67_C5_S67-5-210. Check the current official text before relying on it. Not legal advice.