Taxes, Real Property - As introduced, sets the value of residential property for tax purposes at the higher of the most recent price paid for the property or the value attributed to the property by a financial institution when the owner refinances the mortgage on the property or otherwise uses the property as collateral for a loan; prohibits the sale of real property used by the owner as a principal place of residence for 10 years or more to satisfy a tax debt. - Amends TCA Title 26 and Title 67.

HB 1716 changes how Tennessee taxes residential property by setting the tax value at the higher of the most recent sale price or a financial institution's appraisal during refinancing (effective after December 2020). It also protects homeowners who have lived in their primary residence as a U.S. citizen for 10+ years by prohibiting tax sales to satisfy property tax debt, requiring proof of residency and citizenship. Once eligibility is confirmed, interest stops accruing on the debt, which becomes due only upon property transfer. This applies to homes used as primary residences, directly affecting long-term residential property owners. The bill amends Tennessee Code Sections 26-2-301 and 67-5-2501.