Taxes, Real Property - As introduced, requires half the revenue collected from recordation taxes be returned to the county in which the real property is located on a recurring basis; applies to transfers of real property on or after July 1, 2025. - Amends TCA Section 67-4-409.

SB 126 requires that 50% of recordation taxes collected from real estate transfers be returned to the county where the property is located, starting July 1, 2025. This applies to all property transfers on or after that date, with the state remitting funds to counties based on each county’s total tax contributions. The bill does not change the tax rate but alters how collected revenue is distributed. This policy directly affects counties receiving the returned funds and property owners paying the recordation tax.