Taxes, Ad Valorem - As introduced, establishes limitations on the property tax rates set by a county or municipality. - Amends TCA Title 67, Chapter 5.

Summary

The bill limits the amount counties can charge for ad valorem taxes to $3 for every $100 of assessed property value and limits municipalities to $2.50 per $100. It amends Tennessee Code sections to make these caps mandatory and stops any local government from setting higher rates. The change is intended to curb growth in property taxes.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share