Tennessee Legislature will consider property tax increase cap

Jan 23, 2024 | Political News

A Tennessee bill would cap property tax increases in the state at 2% plus inflation each year and 6% plus inflation over a three-year span.

A higher percentage increase in property tax rates would require a referendum.

Beacon Center recently asked registered Tennessee voters about a property tax cap in a poll with 11% saying local authorities should retain that power while 35% said a statewide cap should exist and 39% said there should be a combination of state regulations and local decision-making.

“It is clear that people are unhappy with the current property tax system in Tennessee, with just 11% of registered voters supporting the status quo of leaving the decision to increase property taxes solely to the local mayor and city council/county commission,” Beacon Center Vice President of Communication and Outreach Mark Cunningham said about those results. “A large majority of Tennesseans (67%) also support a state property tax cap so long as property tax increases have to be approved by voters via referendum.”