Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the State Legislation Advocacy topic
No spam. Unsubscribe anytime.
Wilson County backs proposal to return half of real estate transfer tax to counties
Summary
County staff asked the committee for permission to send a letter to state legislators supporting a house bill that would return 50% of the real estate transfer tax to the counties where it was collected.
County staff asked the Budget Committee to authorize a letter to state legislators supporting a House bill that would return 50% of the real estate transfer tax to the county where the transfer occurred. The committee agreed and authorized staff to prepare the letter with commissioners’ signatures.
The presenter said the bill would not change the nominal transfer tax rate (currently 37¢ per $100, as stated in the packet) but would return half of the revenue already collected to counties. Based on four years of collections, the presenter said the proposal equates to roughly $155,000,000 statewide and about $5,500,000 for Wilson County. The presenter framed the change as a way to help counties keep pace with growth and infrastructure needs and to relieve some pressure on property taxes.
Members moved and seconded a motion to authorize sending the letter; the committee approved the request by voice vote. Staff suggested drafting a resolution to accompany the letter if formal commission endorsement is later required.
The meeting record does not include text of the bill or a bill number; staff said the County Mayors Association had requested that counties contact their legislators about the proposal.
