Amends TCA Section 67-4-409.
Tennessee SB0126 amends TCA Section 67-4-409 to require that half of the revenue collected from recordation taxes be returned to the county where the real property is located. This change applies to transfers of real property occurring on or after July 1, 2025. The bill primarily affects local governments by providing them with a share of the tax revenue generated from real estate transactions.
Tennessee SB0126 amends TCA Section 67-4-409 to require that half of the revenue collected from recordation taxes be returned to the county where the real property is located. This change applies to transfers of real property occurring on or after July 1, 2025. The bill primarily affects local governments by providing them with a share of the tax revenue generated from real estate transactions.
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