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Franklin County sets FY2023 property tax rates, unanimously adopts levy
Summary
The Franklin County Commission approved Resolution 4SCB-0822 Aug. 29, setting combined property tax rates for the fiscal year beginning July 1, 2022, allocating cents to county funds and confirming sales-tax distribution rules; vote was 16-0.
Franklin County commissioners unanimously approved the county's fiscal-year 2023 tax levy Aug. 29, adopting Resolution 4SCB-0822 to set property tax rates and specify how local-option sales tax and other state-shared revenue will be allocated.
Commissioner Greg King moved to approve the tax-levy resolution and Commissioner Michelle Earle seconded. The roll-call vote recorded 16 ayes and no nays.
Under the adopted resolution the combined property tax rates are set at $1.8753 per $100 outside municipal limits, $1.8268 in most cities and $1.6685 inside the cities of Winchester, Tullahoma and the town of Sewanee. The resolution spells out the cents assigned to particular funds, including the County, Library, Solid Waste, Local Purpose (Rural Fire), Highway, General Purpose School, and General Debt Service funds, and includes direction for allocation of local-option sales tax receipts and TVA revenue-sharing.
County finance staff told the commission the levy implementation will provide the revenue basis for fund appropriations recorded in the FY2023 appropriation resolution and the county's budget packet.
