A resistive liquid level/temperature sensor and transmitter including low voltage impedance measurement circuitry to convert three impedance values into indications of the temperature and the levels of two different liquids (e.g., oil and water) located within a storage tank. A resistive chain network including a plurality of series connected resistors and a corresponding plurality of reed switches extend longitudinally through a liquid level sensing probe that is dipped into the liquids in the tank. A pair of magnetic floats having different specific gravities surround the probe and rise to the two fluid levels. The magnetic floats close adjacent reed switches which create first and second current paths through the resistive chain network. The impedances of the first and second current paths are measured to provide an indication of the liquid levels. A resistive temperature device carried by the probe provides an indication of temperature.