A coalition that includes the Tennessee Farm Bureau, Tennessee Realtors and Tennessee Chamber of Commerce officially announced today the launch of "Yes on 2," the single measure committee to pass a constitutional amendment banning a state property tax. Governor Bill Lee will serve as the statewide chairman for the effort.
A recent poll commissioned by "Yes on 2" showed that 64 percent of Tennessee voters support banning a state property tax, officials said.
Tennessee does not currently have a state property tax; only local governments currently impose property taxes.
However, state law permits the collection of a state property tax, and the state did so until 1949. Passage of Amendment 2 would prohibit the legislature from enacting a state property tax.
“Tennessee Farm Bureau is proud to serve on the committee for "Yes on 2" to ensure that Tennesseans are able to keep more of their hard-earned money,” said Kevin Hensley, director of public policy for Tennessee Farm Bureau. “For farmers and those in our rural areas, forever banning a state property tax will allow them to grow and continue to support our state’s agricultural economy.”
“The Tennessee Realtors are looking forward to talking with voters about the importance of banning a statewide property tax,” said Chris Garrett, president of Tennessee Realtors. “Excessive property taxes could make the difference between a Tennessean being able to afford a home or being priced out of the market entirely, and we will always fight to ensure the dream of home ownership is in reach for Tennesseans.”
“The Tennessee Chamber is excited to join the effort to ensure Tennessee never again imposes a state property tax,” said Josh Brown, president and CEO of the Tennessee Chamber of Commerce. “The threat of high property taxes would be a barrier for businesses large and small to locate here, expand and create jobs. Ensuring Tennessee remains a low-tax, competitive destination for businesses is a crucial part of economic success."
Speaker Cameron Sexton will serve as the East Tennessee chair. Representative Tandy Darby will serve as the West Tennessee chair. Speaker Pro Tempore Ferrell Haile will serve as the Middle Tennessee chair. In addition to the Tennessee Farm Bureau, Tennessee Realtors and Tennessee Chamber of Commerce, the coalition includes Americans for Prosperity, the Beacon Center of Tennessee and the National Federation of Independent Business’ Tennessee chapter.