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SB 1824

Taxes, Real Property - As introduced, eliminates liability for rollback taxes on agricultural, forest, or open space land with a greenbelt classification when the land is sold; requires that a buyer of property with a greenbelt classification submit a new application to renew the property's greenbelt classification. - Amends TCA Section 11-14-307; Section 11-14-406; Section 11-7-109; Title 66; Section 67-4-409; Title 67, Chapter 5, Part 10 and Section 67-5-2402.

114th Regular Session (2025-2026) Introduced by Adam Lowe

Bill eliminates rollback taxes on greenbelt-classified property sales but requires buyers to reapply for the tax classification, reducing seller penalties while increasing buyer administrative burden.

Placed on Senate State and Local Government Committee calendar for 3/31/2026
#realproperty #taxes
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Bill Summary · SB 1824

Legislative bill overview

SB 1824 eliminates rollback taxes on agricultural, forest, or open space land classified as "greenbelt" when it is sold, while requiring new buyers to reapply for the greenbelt classification. The bill amends multiple sections of Tennessee's tax code related to property valuation and land use classifications.

Why is this important

Rollback taxes are penalties imposed when land loses its preferential tax status due to conversion to non-agricultural or non-open space use. This change could significantly reduce the financial burden on sellers of greenbelt-classified land, potentially making such sales more attractive and affecting both land use patterns and tax revenue. It also shifts the administrative burden of maintaining greenbelt status to new purchasers rather than carrying it forward automatically.

Potential points of contention

  • Tax revenue impact: Eliminating rollback taxes reduces state/local revenue when greenbelt land is developed or transferred, potentially shifting costs to other taxpayers or reducing public funds
  • Land preservation goals: Removing rollback penalties may reduce the financial incentive to keep land in agricultural or open space use, potentially accelerating development of sensitive lands
  • Fairness to new buyers: Requiring new applicants to reapply for greenbelt status creates additional compliance burden and could result in classification denials, disadvantaging subsequent purchasers compared to original owners

Compiled from official sources — confirm details with the bill’s official record.

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