Taxes, Ad Valorem - As introduced, removes the condition that a taxpayer or owner must obtain consent of the assessor of property before appealing the valuation of industrial and commercial real and tangible personal property directly to the state board of equalization; makes other related revisions. - Amends TCA Title 67, Chapter 5.

SB 771 removes a requirement that industrial and commercial property owners must get their local property assessor's consent before appealing property valuations directly to the Tennessee State Board of Equalization. The bill allows these taxpayers to file direct appeals with the state board by August 1 each year, without prior assessor approval. It also ensures that disputed tax amounts remain non-delinquent during appeals and prevents interest from accruing on those disputed portions until the state board issues its final decision. This directly affects business property owners and local tax collectors in Tennessee by streamlining the appeal process and reducing financial penalties during disputes.