Taxes, Real Property - As enacted, authorizes, until June 30, 2041, a county or municipality that levies a property tax to pay a property tax refund owed to a taxpayer through annual installments applied as credits against the taxpayer's future property taxes if certain criteria are met. - Amends TCA Title 67.

Summary

SB 198 lets counties or municipalities that collect property taxes give refunds to taxpayers by applying the refund as credits toward future property tax bills, provided certain conditions are met. It also updates the reporting rule so the annual report can be sent electronically to the state board of equalization. The law runs until June 30, 2041.

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