THE DEADLINE TO SCHEDULE AN APPOINTMENT WITH THE METRO BOARD IS JUNE 13TH AT 4:00 PM. THE DEADLINE TO FILE A GREEN SCHEDULE B ON THE B-ONLINE IS JUNE 13TH AT 11:59 PM

     

Jo Ann North

Property Assessor

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Are Nashville’s taxes high?

While Assessors “don’t do” taxes, we do study them, and it appears that Nashville taxpayers are rather fortunate.  Consider this:

  • Tennessee ranks 48th lowest among states, when comparing tax burdens as a percentage of income. 

  • Metro’s property tax rate has remained substantially lower than the three other major Tennessee cities for over 25 years.

The above chart compares combined "city-county" tax rates for the 2004 tax year.

Perhaps, more surprising is that Nashville's rate now is two cents lower than Clarksville-Montgomery County and only six cents higher than Murfreesboro-Rutherford County. 

Since all four “big cities” reappraised in 2001 and 2005, it is fair to compare rates. The other two counties recently finished their reappraisals and were at 100% values, based on the State’s studies.

Students of the metropolitan form of government believe the consolidation of city and county plays the major role in keeping property taxes lower in the capitol city.  They point out that prior to "Metro," the city and county governments constantly were competing for tax dollars to fund their services and there were duplications of administrative, legislative and judicial branches.

Consolidation solved both those problems beginning in 1963.  Regardless of where the credit belongs, Nashville has managed to increase and expand services while keeping the property tax rate from spiraling upward as it has in many cities where taxpayers are less fortunate.

Why a property tax?

The ad valorem property tax has been the life-blood of local government for centuries.

Not only is it one of the oldest tax forms recorded in civilized history, it is considered one of the most stable revenue sources because growth in property values usually offsets inflation rates that affect a government’s expenditures and make balancing a budget challenging.

Its revenues support schools, police, fire, emergency management, health, hospitals, social services, ambulances, public works, libraries, parks, courts, jails and other services that make our city a great place in which to live and work.

The property tax pays about 46% of the bill for Metro services, as shown in this revenue graph for the current fiscal year, as prepared by the Metro Finance Department.

Other major sources are the local option sales tax which contributes 18% and grants and contributions (mainly state and federal funds) which total 19%. Fees, fines, etc., provide 13% and fund balances represent 4% of the total revenues.

More information on the current budget is available at:

Citizens Guide to the Budget

Reappraisal 2005 - Brochure Page Index

1 - Top Ten List Our Mission P5 - Are Nashville's taxes high?

2 - How do you appraise?

6 & 7 - What's a certified tax rate?

How does it work?

Why did my taxes go up in 2001?

3 - What are my tax districts?

Public Notice - ADA

4 - How do I figure my tax bill?

Where does the money go?

P8 - How can I contest my assessment?
 

Updated: 06/13/2008 09:37 AM CST   |  © 2005 PADCTN.COM

 

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