Taxes, Ad Valorem - As introduced, requires 10 percent of the excess proceeds from a delinquent property tax sale to be used for tax relief for homeowners who are elderly low-income, disabled, or a disabled veteran or widow of a disabled veteran. - Amends TCA Title 67, Chapter 5.

SB 775 requires that 10% of excess proceeds from delinquent property tax sales in Tennessee be allocated to provide tax relief for specific homeowners. It directly affects elderly low-income residents, disabled individuals, disabled veterans, and widows of disabled veterans. The bill amends tax code provisions to mandate this funding shift, directing the 10% toward a new relief program under Chapter 5 of Title 67. This policy change takes effect July 1, 2025, creating a dedicated funding source for targeted property tax assistance.