Amends TCA Title 67, Chapter 5.
Tennessee HB2265 urges the comptroller of the treasury to study the feasibility and potential impacts of valuing all residential property based on the most recent purchase price, rather than through traditional appraisal methods used by property assessors. If the study is conducted, a report must be submitted to the finance committees of both the Senate and the House of Representatives. This bill primarily affects residential property valuation practices and the assessment process in Tennessee.
Tennessee HB2265 urges the comptroller of the treasury to study the feasibility and potential impacts of valuing all residential property based on the most recent purchase price, rather than through traditional appraisal methods used by property assessors. If the study is conducted, a report must be submitted to the finance committees of both the Senate and the House of Representatives. This bill primarily affects residential property valuation practices and the assessment process in Tennessee.
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