Taxes, Ad Valorem - As introduced, requires the notification submitted by the director of the division of property assessments to the commissioner of finance and administration of the default by a county or city in the repayment of a loan provided by the state to finance the city's or county's real property reappraisal program to be in writing. - Amends TCA Title 67, Chapter 5.

SB 1961 requires that when a county or city fails to repay a state loan for real property reappraisal, the director of property assessments must provide written notification to the commissioner of finance and administration. This amendment to Tennessee Code Annotated, Title 67, Chapter 5, specifically adds "in writing" to the existing requirement for default notifications. It directly affects local governments borrowing state funds for property valuation programs and the state agency overseeing these loans. The change clarifies communication protocols, ensuring documented records of repayment defaults rather than verbal notices.