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 986 requires Tennessee counties to receive 50% of the recordation taxes collected from real property transfers (like home sales) after July 1, 2025. It directly affects counties where property transfers occur, as they will receive a recurring share of the tax revenue collected from those transactions. The bill amends tax law to mandate that the state returns this 50% share to each county based on the total tax amount the county initially remitted to the state. This change applies only to property transfers happening on or after the effective date, altering how real estate transfer tax funds are distributed.