Billy Ray Cyrus According to an investigation by The Knoxville News Sentinel, wealthy individuals — including corporate CEOs and country music stars — are taking advantage of a loophole in Tennessee law to claims huge tax breaks on their property. This tax provision is meant to help farmers, but instead is helping members of the 1 percent save tens of thousands of dollars on their property taxes every year: An investigation by The Knoxville News Sentinel and The Commercial Appeal found…an impressive roster of wealthy Tennesseans who make their millions elsewhere but use the farmland protection law to escape much of their local property tax bills — from Fortune 500 executives to country music stars.
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