Taxes, Real Property - As enacted, establishes the process for property tax assessment and valuation of multi-unit rental housing that receives a federal, state, or local incentive based on low-income renter restrictions. - Amends TCA Title 7; Title 13; Title 48; Title 49; Title 67 and Title 68.

HB 753 establishes new rules for taxing multi-unit rental properties (4+ units) that receive federal, state, or local incentives tied to low-income renter restrictions. It requires property assessors to value these properties using specific methods, including adjusting market value based on rent ratios and excluding tax credits, while applying a capitalization rate 50-150 basis points above standard rates. Owners must notify assessors about restrictions by December 31 each year, or face tax penalties. The law takes effect for tax year 2026 and applies to properties developed on or after that date.