Nov. 28 – The Cumberland County Commission officially asks the Tennessee General Assembly to show them the money.
At the November county commission meeting, the county approved a resolution asking the state to share half of the transfer tax funds collected in Cumberland County.
According to the resolution and request to the 114th session of the Tennessee General Assembly, the state has for years imposed a 37 cents per $100 of value for the privilege of publicly recording documents evidencing all transfers of real property. either by deed, judicial instrument, decree, partition deed or other instrument showing the transfer of any interest in real estate.
Although the tax is collected locally by county-paid employees in the register of deeds, it must be remitted to the state.
The resolution requests that the state return half of the tax to the county that collected the tax under Tennessee Code Annotated 67-4-409.
“County governments have few revenue options available to them to fund the many critical government services mandated by state law and therefore rely largely on property taxes to fund these services…Many counties are experiencing rapid population growth as families choose to relocate to Tennessee and settle in its communities, contributing to the demand for county services and infrastructure necessary to maintain the quality of life that all Tennesseans expect and deserve,” the resolution said.
It further states that this would “remove pressure on local property taxes and allow investments in infrastructure and services without unnecessarily burdening state finances and without increasing the rate of this tax.”
According to Cumberland County Mayor Allen Foster, the Association of County Mayors, the Tennessee County Commissioner’s Association and the Tennessee County Services Association all voted to ask the state to share the land transfer tax revenue with the original county.
A copy of the resolution will be sent to the members of the Tennessee General Assembly representing Cumberland County.
It was approved unanimously after 5th District Commissioner Terry Lowe requested approval. 6th District Commissioner Wendell Wilson seconded the motion.
Lowe sponsored the resolution.
