The Sumner County Commission met Monday night and set the new tax rate at $2.50. That's a 42 cent increase over the rate set after the recent appraisal process. The new rate will mean a cost of about $10-13 a month for the average Sumner County homeowner.
The increase was approved after a presentation from Sumner County Finance Director David Lawing made a presentation noting that if there was no new revenue, the county would essentially be out of money by July 1st.
Here's Lawing's presentation.
After years of passing deficit budgets and funding them with reserve funds under the previous Commission leadership, the county ran out of options. The new rate will allow for management of growth in the county, provide funds to improve existing school facilities (significantly reducing reliance on portable classrooms), and shore up the county's finances so a dire situation like this year's can be avoided in the future.
The increase is the first passed in 11 years. The new rate is among the lowest in middle Tennessee and still, in raw dollars, lower than the rate in 1997.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment