HB2638 — Taxes, Ad Valorem - As introduced, prohibits local governments, including special school districts, from levying real property taxes in an amount that would cause local governments to realize an increase in total revenue exceeding inflation plus 2 percent, or over a period of three tax years, inflation plus 6 percent, unless a referendum election is held by the local government to raise the tax above such amount and the referendum passes by a majority vote of the electorate. - Amends TCA Title 48 and Title 67, Chapter 5.

HB2638 — Taxes, Ad Valorem - As introduced, prohibits local governments, including special school districts, from levying real property taxes in an amount that would cause local governments to realize an increase in total revenue exceeding inflation plus 2 percent, or over a period of three tax years, inflation plus 6 percent, unless a referendum election is held by the local government to raise the tax above such amount and the referendum passes by a majority vote of the electorate. - Amends TCA Title 48 and Title 67, Chapter 5. · Informed CitizenryHB2638 amends Tennessee Code Annotated Title 48 and Title 67, Chapter 5, to place limits on how much local governments, including special school districts, can increase real property taxes. The bil…Open in Informed Citizenry