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Commissioners discuss raising adequate facilities tax for new construction to $1.50 per square foot
Summary
Commissioners reviewed a recently passed statewide law that allows counties to increase the adequate facilities tax on new construction. Supporters said the change would boost school debt funding and reduce subsidy of new development; commissioners agreed to move the item to old business for further study.
Sumner County commissioners discussed a new state law that permits counties to increase the adequate facilities tax on new construction from the amounts set in 1999 to as much as $1.50 per square foot for residential and for commercial/industrial construction.
Commissioner David Klein (committee presentation) said the increase would raise revenue dedicated to school debt and could help slow the county’s need for future property tax increases for school construction. “We’re basically subsidizing all new construction probably to the tune of about 95%,” Klein…
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