Taxes, Real Property - As introduced, requires a local governmental entity to hold a referendum to approve a property tax increase that exceeds specified thresholds. - Amends TCA Title 48 and Title 67, Chapter 5.

SB 2064 requires Tennessee counties, cities, towns, and special taxing districts to hold a voter referendum before increasing property tax rates that would exceed inflation plus 2% in a single year or inflation plus 6% over three years. Local governments must first secure a two-thirds vote from their governing body to trigger the referendum, which must be held during a regular November election. This rule does not apply to taxes for bond payments, comptroller actions, or utility rate changes. The bill amends Tennessee tax laws and takes effect for tax years beginning July 1, 2026.