Taxes, Real Property - As introduced, limits the setting of the tax rate on property by a county, municipality, metropolitan government, or other taxing entity in any fiscal year at a rate that would render in total receipts from all levies an amount more than the receipts from that source from the immediately preceding fiscal year for the county, municipality, metropolitan government, or other taxing jurisdiction, plus an additional 2 percent, subject to certain exceptions; establishes a procedure by which the 2 percent increase may be exceeded by passage of a referendum. - Amends TCA Title 67, Chapter 5.
SB 2002 limits property tax increases for Tennessee counties, municipalities, and other local taxing entities. It prohibits total property tax revenue from exceeding the previous year's total plus 2%, with exceptions for new construction and bonds issued before July 1, 2026. To exceed this 2% cap, local governments must hold a referendum requiring 60% voter approval, specify the tax amount and purpose, and limit increases to four years. The law applies to all local tax jurisdictions and takes effect July 1, 2026.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2026
Committee Review
Floor Vote
Governor
Introduced Feb 2, 2026
Last action Mar 24, 2026
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
3
Committee
5
Mar 24, 2026
Committee
Assigned to General Subcommittee of Senate State and Local Government Committee
lower
Mar 18, 2026
Lower · Passed
Placed on Senate State and Local Government Committee calendar for 3/24/2026
lower
Mar 17, 2026
Lower · Passed
Action deferred in Senate State and Local Government Committee to 3/24/2026
lower
Mar 11, 2026
Lower · Passed
Placed on Senate State and Local Government Committee calendar for 3/17/2026
lower
Feb 5, 2026
Committee
Passed on Second Consideration, refer to Senate State and Local Government Committee
upper
Feb 2, 2026
Introduced
Introduced, Passed on First Consideration
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Joey Hensley
RRepublican
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