AN ACT to amend Tennessee Code Annotated, Title 67, relative to property taxes.
Impact
If enacted, SB2769 would significantly impact regulations around property taxes, assessment schedules, and definitions of various property types in Tennessee. The more streamlined definitions and notification requirements are expected to facilitate improved clarity and accountability in property assessments. By clarifying the categorization of movable structures, the bill adheres to modern living arrangements and commercial needs, thus aligning state laws with current real estate trends.
Summary
Senate Bill 2769 is aimed at amending various sections of the Tennessee Code Annotated related to property taxes. The bill introduces changes to how property is assessed and specifies requirements for notifying local registers of deeds about permanent records. Notably, the legislation redefines a 'movable structure' to encompass mobile homes and similar structures, clarifying their usage either as residences or for commercial purposes. Furthermore, the bill sets forth provisions regarding the approval of reappraisal plans for property assessments.
Sentiment
The sentiment surrounding SB2769 appears to be generally supportive, particularly from property assessors and real estate professionals who view the amendments as beneficial for clarity and consistency in property assessments. The bill's provisions for clearer definitions and processes are likely to simplify operations for local assessors and contribute to more accurate tax collection. There have not been significant public outcries or opposition noted in available discussions so far, indicating a collaborative approach towards addressing property taxation issues.
Contention
While there seems to be a consensus on the need for clarity in property tax assessments, some local government representatives may express concerns regarding the potential implications of defined movable structures on local governance powers. The emphasis on structured notification and assessment methods may raise questions about how local jurisdictions can maintain oversight and address specific community needs effectively. Nonetheless, as it stands, there appears to be a lack of intense debate surrounding the bill, suggesting minimal contention among lawmakers during the voting process.