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Bill BL2020-389

An ordinance establishing the tax levy in the General Services District for the fiscal year 2020-2021, declaring the amount required for the annual operating budget of the Urban Services District, pursuant to section 6.07 of the Metropolitan Charter, and repealing the initial tax levy adopted for fiscal year 2020-2021.

WHEREAS, the Metropolitan Government has received greater than anticipated sales tax revenue in the fourth quarter of Fiscal Year 2019-2020; and
WHEREAS, the Metropolitan Government had initially forecasted a shortfall of approximately $200 million in taxes than originally budgeted for April, May, and June 2020. However, the actual shortfall is now anticipated to be approximately $100 million less than forecasted; and
WHEREAS, since the sales tax revenues during the fourth quarter of Fiscal Year 2019-2020 where significantly higher than projected during a period when most businesses were shut down due to the COVID-19 pandemic, the property tax rate should be adjusted to reflect the increase in the revised forecasted sales tax revenues for the Metropolitan Government for Fiscal Year 2020-2021 as the Metropolitan Government moves through the reopening phases, which will provide much needed assistance to taxpayers in meeting the financial strains that are caused by the COVID-19 pandemic.
BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the tax levy for the General Services District of the Metropolitan Government of Nashville and Davidson County for the fiscal year 2020-2021 on each $100.00 assessed value of all property, real, tangible personal, intangible personal and mixed, within the General Services District, shall be $3.485 prorated and distributed as follows:
1. General Fund $ 1.587 per $100.00
2. School Fund $ 1.186 per $100.00
3. Debt Service Fund $ .522 per $100.00
4. School Debt Service Fund $ .190 per $100.00
Total Levy General Service District
$ 3.485 per $100.00
Section 2. That $0.05 per $100.00 of the revenue of the General Services District General Fund generated from this tax levy collected from the area of the Urban Services District will be deposited to the credit of the General Fund of the Urban Services District.
Section 3. Pursuant to Section 6.07 of the Charter, BE IT HEREBY DETERMINED AND DECLARED that the annual operating budget of the Urban Services District for the fiscal year 2020-2021 requires $123,598,200 by a property tax levy therein, and the Urban Council is hereby directed to levy a tax upon all property, real, tangible personal, intangible personal and mixed, within the Urban Services District of $0.433 per $100.00 of assessed valuation, prorated and distributed as follows:
1. General Fund $0.359 Per $100.00
2. Debt Service Fund $0.074 Per $100.00
Total Levy Urban Services District
$0.433 Per $100.00
Section 4. That the tax levy as adopted by Substitute Ordinance No. BL2020-287 is hereby repealed.
Section 5. This ordinance shall take effect from and after its passage, the welfare of the Metropolitan Government of Nashville and Davidson County requiring it.

Sponsor(s)

Steve Glover, Robert Swope, Zach Young

Legislative History

IntroducedAugust 4, 2020

Substitute adoptedAugust 4, 2020

Requests for ADA accommodation should be directed to the Metropolitan Clerk at 615-862-6770.

Last Modified: 08/06/2020 5:13 PM