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Monroe County seeks half of real-estate transfer tax be returned to counties
Summary
The Monroe County Commission voted to request that the Tennessee General Assembly allocate one-half of the real estate transfer tax to the county where it was collected on a recurring basis; commissioners motioned and called for roll call on the resolution.
The Monroe County Commission on Nov. 25 approved a resolution asking the 104th Tennessee General Assembly to allocate one-half of the real estate transfer tax to the county where it is collected on a recurring basis.
Speaker 1 introduced "Resolution 1125-8," which, as described at the meeting, would request that the state legislature change the distribution of the real estate transfer tax to provide counties with half of the revenue collected in the county. "The hundred and fourth session of the Tennessee General Assembly to allocate one-half of the real estate transfer tax to the county where the tax was collected on a recurring basis," Speaker 1 said when presenting the item.
Why it matters: Moving a share of the transfer tax from state-level receipts to counties would increase local revenue tied to real estate transactions and could affect county budgets if adopted. The commission's resolution is a formal request; it does not change state law and would require action by the General Assembly.
The motion to adopt the resolution was made and seconded during the meeting; a roll call was requested. The transcript segments provided do not include the final roll-call tally for this item.
Ending: The resolution was advanced by motion at the Nov. 25 meeting and will be transmitted as a request to the Tennessee General Assembly for consideration; any change would require legislative action at the state level.
