Taxes, Ad Valorem - As introduced, establishes limitations on the property tax rates set by a county or municipality. - Amends TCA Title 67, Chapter 5.

SB 2383 (Tennessee property tax rate limits) sets new annual caps on local property tax rates. It limits county property taxes to $3.00 per $100 of assessed property value and municipal taxes to $2.50 per $100. These provisions directly affect all Tennessee counties and municipalities by restricting how much they can charge for property taxes. The bill takes effect January 1, 2027, replacing previous rate-setting authority under Tennessee Code § 67-5-102 and § 67-5-103.