Proposed legislation would limit how much local governments in Tennessee can increase property taxes.
Sponsored by Senator Bo Watson (R-Hixson-District 11), Senate Bill 2064 (SB2064) prohibits local governments from “increasing a real property tax rate by an amount that would cause local government to realize an increase in total revenue exceeding inflation plus two percent or that would cause the local government to realize an increase in total revenue exceeding inflation plus two percent over the preceding three years.”
City or county governments wanting to exceed these limits would have to put proposed increases to a vote in the next statewide election.
