SB0986 amends Tennessee Code to change how realty transfer taxes are handled by the state.

SB0986 amends Tennessee Code Annotated, Section 67-4-409, concerning the handling of realty transfer taxes. The bill specifies that the state department must return fifty percent of the recordation taxes collected by county registers to the respective counties, except for certain commissions, fees, and credits to specific accounts or funds. This change takes effect July 1, 2025, and applies to real property transfers occurring on or after that date.

SB0986 amends Tennessee Code to change how realty transfer taxes are handled by the state.

SB0986 amends Tennessee Code Annotated, Section 67-4-409, concerning the handling of realty transfer taxes. The bill specifies that the state department must return fifty percent of the recordation taxes collected by county registers to the respective counties, except for certain commissions, fees, and credits to specific accounts or funds. This change takes effect July 1, 2025, and applies to real property transfers occurring on or after that date.