Amends TCA Title 7; Title 13; Title 48; Title 49; Title 67 and Title 68.

Tennessee SB0539 amends various sections of the Tennessee Code Annotated to establish new assessment methods for multi-unit rental housing subject to government restrictions on use. The bill affects property owners and assessors by requiring that such properties be valued based on specific methodologies, including net operating income approaches and adjustments for market comparisons. Key provisions include the requirement for property owners to notify assessors of any changes in government restrictions and to submit necessary information for proper assessment by December 31 each year.