- See also: School bond and tax elections in Tennessee
Tennessee is one of eight states along with the District of Columbia that does not hold school bond or school tax referendums. Under Tennessee law, all tax levies must be certified by the county in which the school district resides in. Also, all bonds in Tennessee must be sold at 98 percent of its value or higher with zero (0%) percent interest. All bonding must be approved by the Tennessee State Funding Board.