RESOLUTION NO. 2005-777
A resolution requesting the Davidson County Delegation to the Tennessee General Assembly to enact Senate Bill 1170/House Bill 2133 to authorize a local option realty transfer tax.
WHEREAS, many counties in the State of Tennessee are struggling to find sufficient revenue sources in order to meet the growing demands of their citizens for services which are vital and fundamental to the health, welfare, and safety of the residents of this state, to provide improvements to infrastructure required by population and economic growth, and to meet state mandates such as those required by the Basic Education Program; and
WHEREAS, meeting the demands for capital improvements required by the standards and mandates of the Basic Education Program has been especially burdensome on the financial resources of county governments for the last few years, with a record amount of debt being incurred for school construction and renovation; and
WHEREAS, county governments are limited by state law regarding the forms of taxation and revenue generation which the county is authorized to use, leaving many counties overly dependent on the property tax as a primary source of revenue; and
WHEREAS, Senate Bill 1170/House Bill 2133 provides a desperately needed additional revenue source for counties by authorizing county legislative bodies to levy, by a resolution adopted by a two-thirds vote, a tax on the privilege of recording instruments that transfer interests in real property in the office of the register of deeds in the same manner and amount as the state transfer tax; and
WHEREAS, this legislation is permissive and does not levy a tax, but merely authorizes counties to levy a transfer tax if the county legislative body finds it is in the best interest of the county to do so.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the Metropolitan County Council hereby goes on record as requesting the Davidson County Delegation to the Tennessee General Assembly to enact Senate Bill 1170/House Bill 2133 to authorize a local option realty transfer tax.
Section 2. That the Metropolitan Clerk is directed to send a copy of this Resolution by U.S. mail or electronic mail to each member of the Davidson County Delegation to the Tennessee General Assembly.
Section 3. This Resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Sponsored by: Amanda
|Referred:||Budget & Finance Committee|
|Introduced:||April 5, 2005|
|Adopted:||April 5, 2005|
|Returned Unsigned by Mayor:||April 7, 2005|