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Franklin County sets 2017–18 property tax rates; board votes 13–0
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Summary
The Board of Franklin County Commissioners adopted Resolution 01-073117 setting the 2017–18 combined property tax rates; the motion passed unanimously (13–0). The resolution also prescribes how local-option sales taxes and certain fee allocations will be distributed among funds.
The Franklin County Board of Commissioners approved the 2017–18 tax levy on July 31, adopting RESOLUTION 01-073117 to fix county property tax rates for the fiscal year beginning July 1, 2017.
The resolution sets the combined property tax rate at $2.6736 per $100 of assessed value inside the cities of Winchester and Tullahoma and in the town of Sewanee; it sets $2.3562 within the remaining cities and $2.5995 outside municipal boundaries. The resolution breaks the combined rate into specific levies for the county, library, solid waste, local purpose (rural fire), highway, general purpose school and debt-service funds.
Commissioner Gene Snead moved to approve the tax levy resolution; Barbara Finney seconded. The commission approved the measure by voice vote, 13–0. The text of the resolution also specifies allocations of local option sales tax receipts between school and debt service funds, addresses the allocation of TVA revenue sharing and dedicates Nissan in-lieu-of-taxes revenue to the Education Debt Service Fund.
Clerk-certified copies of the tax levy resolution and the full budget packet were filed with the commission minutes.
The commission concluded the special-called session at 7:28 p.m.