Tennessee legislation · 114th General Assembly

Tennessee HB162: AN ACT to amend Tennessee Code Annotated, Title 67, relative to taxes.

Status: Chaptered, May 27, 2026

Fiscal Summary NOT SIGNIFICANT Bill Summary ON MARCH 26, 2026, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 198, AS AMENDED. AMENDMENT #1 rewrites the bill to, instead, authorize, until June 30, 2041, a county or municipality that levies a property tax to pay a property tax refund owed to a taxpayer through annual installments applied as credits against the taxpayer's future property taxes if all of the following criteria are met:  The county or municipality and the taxpayer agree in a written settlement of a property tax dispute that the refund will be applied as credits. The written settlement agreement must (i) contain a provision wherein the taxpayer waives any penalties and interests that would otherwise accrue; (ii) be sign by the chief elected official of the municipality or county and the taxpayer; and (iii) be filed with the comptroller of the treasury within 30 days.  The refund is paid in full within 10 years of the written settlement agreement. Each annual installment is applied to the future property taxes of the same parcel or parcels that are subject of the property tax dispute.  The total refund owed to the taxpayer is greater than $500,000.  The county or municipality is authorized to accept prepayments and partial payments of property taxes.