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Sevier County projects $5–8 million from short-term rental tax reclassification; $2–3 million likely for schools
Summary
County officials told the Budget Committee May 4 that reclassification of short-term rental property tax is expected to yield about $5–8 million in additional revenue; the Sevier County Board of Education is expected to receive an estimated $2–3 million with the Mayor’s Office proposing the remainder for tourism-affected services.
Sevier County officials told the Budget Committee on May 4 that reclassifying short-term rental property tax could generate an estimated $5–8 million in additional revenue for the county.
Vice Mayor Bryan McCarter and Brooke Huffaker, Assistant County Mayor and Senior Director of Finance & Administration, said an estimated $2–3 million of that revenue would be allocated to the Sevier County Board of Education (SCBOE). McCarter said the Mayor’s Office would propose using the remaining funds for services affected by tourism.
Huffaker told the committee the Finance Department is working with other departments to reduce budget requests in light of revenue changes. The officials described the $5–8 million as an approximate range; specific allocations and final figures will be determined as the budget process proceeds.
The committee was reminded of the SCBOE 'Bird’s Eye View' budget meeting on May 11; the Tentative Final Budget Presentation is scheduled for June 13 at noon, when formal allocations will be reflected in the proposed budget.
