Bill > HB2325

This bill, effective January 1, 2027, establishes limitations on property tax rates that counties and municipalities in Tennessee can set, amending existing state laws related to property taxes. Specifically, it caps the property tax rate for counties at three dollars ($3.00) per hundred dollars of assessed value, and for municipalities at two dollars and fifty cents ($2.50) per hundred dollars of assessed value, meaning the amount of tax is calculated based on a percentage of the property's appraised worth. These new limits are intended to control the amount of property tax levied by local governments.