Tennessee HB1873 amends real property tax laws to restrict tax rate increases and require referendums for certain tax hikes.
Tennessee HB1873 amends Tennessee Code Annotated, Title 48 and Title 67, Chapter 5, to modify real property tax regulations. It restricts local governments from increasing real property tax rates unless approved by a two-thirds vote in a referendum election. The bill also limits tax rate increases to inflation plus two percent unless approved by a referendum. Exceptions include taxes for bond payments, actions by the comptroller of the treasury, and utility rates. The changes apply to tax years beginning on or after July 1, 2026.
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