Taxes, Real Property - As introduced, eliminates liability for rollback taxes on agricultural, forest, or open space land with a greenbelt classification when the land is sold; requires that a buyer of property with a greenbelt classification submit a new application to renew the property's greenbelt classification. - Amends TCA Section 11-14-307; Section 11-14-406; Section 11-7-109; Title 66; Section 67-4-409; Title 67, Chapter 5, Part 10 and Section 67-5-2402.

This bill changes Tennessee's property tax rules for agricultural, forest, and open space land (greenbelt classification). When owners sell such land, they no longer face liability for back taxes (rollback taxes) that would otherwise apply. Instead, the buyer must submit a new application to maintain the tax break, but the seller won't owe back taxes regardless of whether the buyer renews the classification. The rule takes effect July 1, 2026, for property sales on or after that date.