SB753 — Taxes, Real Property - As introduced, requires that the value of real property assessed for property tax purposes be ascertained from evidence of its sound, intrinsic, and immediate value, for purposes of sale between a willing seller and buyer without consideration of speculative values, and when appropriate, subject to the Agricultural, Forest and Open Space Land Act of 1976; provides that evidence includes an independent appraisal commissioned by the owner of the residential property. - Amends TCA Title 62, Chapter 39 and Title 67, Chapter 5.

SB753 — Taxes, Real Property - As introduced, requires that the value of real property assessed for property tax purposes be ascertained from evidence of its sound, intrinsic, and immediate value, for purposes of sale between a willing seller and buyer without consideration of speculative values, and when appropriate, subject to the Agricultural, Forest and Open Space Land Act of 1976; provides that evidence includes an independent appraisal commissioned by the owner of the residential property. - Amends TCA Title 62, Chapter 39 and Title 67, Chapter 5. · Informed CitizenryThis bill amends Tennessee Code to change how the value of residential property is determined for property tax purposes. It requires that property value be based on evidence of its sound, intrinsic…Open in Informed Citizenry