Watson to sponsor bill placing limits on property tax hikes

NASHVILLE, Tenn. (WDEF)- After many homeowners saw significant increases in their property taxes last year, one bill is looking to curb that trend.

Senator Bo Watson says he is introducing Tennessee Senate Bill 2064.

This bill would cap local property tax revenue increases at the inflationary rate, with a max rise of six percent over three years.

If a local government body wanted to increase taxes above that amount, they would have to ask the voters via a referendum.

Senator Watson says that this is in response to those property tax increases, which Chattanoogans and others across Tennessee saw during reappraisals last year.

He said, “This is really focused on the taxpayers and not the government, and how do we continue to provide the resources of that government that needs to operate, but at the same time give some level of predictability to the constituents that actually pay for the government.”

He added that he has heard pushback from numerous mayors, including Chattanooga Mayor Tim Kelly, who believe that this bill would limit their ability to fund necessary services.