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.