Tennessee House Bill HB2481

Tennessee 2023-2024 Regular Session

• Introduced: 1/30/24

Caption

AN ACT to amend Tennessee Code Annotated, Section 67-5-1327; Section 67-5-1328 and Section 67-5-303, relative to property taxes.

Impact

If enacted, HB2481 would directly impact the management and administration of property taxes within Tennessee. By adjusting the timeframe for notices, the bill could lead to a more efficient process for property tax assessments and appeals. This change may assist local governments in improving their revenue collection processes, as property owners would have a clearer understanding of when they need to respond to tax notices. However, the practical implications of this change on revenue timing for local budgets and operations remain uncertain at this stage.

Summary

House Bill 2481 proposes amendments to specific sections of the Tennessee Code Annotated regarding property taxes. The primary focus of the bill is to revise the deadlines associated with property tax notice requirements, changing the timeframe from 'twenty (20) days' to 'three (3) weeks'. This adjustment aims to streamline the communication process regarding property tax assessments, making it potentially easier for property owners to understand their tax obligations and timelines for compliance.

Contention

While specific discussions around HB2481 were not detailed in the available text, amendments regarding property taxes often evoke varied opinions. Supporters may argue that the revision simplifies the process and provides clearer deadlines, benefiting both the government and taxpayers. Critics may express concerns about how such changes could affect local governments' revenue flows or possibly overlook the needs of certain property owners who may require more time to address their tax situations.