Taxes, Real Property - As enacted, establishes the process for property tax assessment and valuation of multi-unit rental housing that receives a federal, state, or local incentive based on low-income renter restrictions. - Amends TCA Title 7; Title 13; Title 48; Title 49; Title 67 and Title 68.

Summary

The bill creates a specific method for valuing multi‑unit rental buildings that receive federal, state, or local low‑income incentives. It requires owners to notify assessors of any government use restrictions and mandates the publication of capitalization rates each tax year. The goal is to ensure tax assessments reflect the reduced market value caused by those restrictions.

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

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