ORDINANCE NO. O98-1296
AN ORDINANCE ESTABLISHING A POLICY OF THE METROPOLITAN GOVERNMENT PROHIBITING THE INCREASE OF PROPERTY TAXES ABOVE THE REQUIRED CERTIFIED TAX RATE IN A YEAR WHICH THERE HAS BEEN A GENERAL REAPPRAISAL OF PROPERTY IN THE AREA OF THE METROPOLITAN GOVERNMENT.
WHEREAS, T.C.A. § 67-5-1601 et seq. requires that a reappraisal of all real property and an equalization of assessments shall be completed every six (6) or four (4) years; and
WHEREAS, the Assessor, with to the approval of the Metropolitan County Council, has determined that the reappraisal and equalization program should be conducted every four (4) years; and
WHEREAS, T.C.A. § 67-5-1701 et seq. requires the Metropolitan County Council to adopt a certified tax rate which shall provide for the same ad valorem revenue as was levied during the previous year, exclusive of new construction, improvements and deletions; and
WHEREAS, Section 6.07 of the Charter of Metropolitan Government requires that after adoption of the operating budget the Council must adopt property tax rates that will ensure a balanced budget for Metropolitan Government; and
WHEREAS, reappraisal and equalization programs conducted by the Assessor have historically, even after adoption of a lower certified tax rate, have resulted in an increase in the tax bill for residential property even though Metropolitan Government receives no additional revenues for new or increased services; and
WHEREAS, it is fitting and proper to adopt a policy prohibiting the increase of property taxes in the same year of the completion of a reappraisal and equalization program to lessen the impact of increased taxes on residential property owners, except when an emergency requires an increase in such taxes.
NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
SECTION 1. It shall the be the policy of the Metropolitan Government that in each year the reappraisal and equalization program of the Assessor is completed the tax rate on property required by SECTION 6.07 of the Charter shall not exceed the certified tax rate adopted by the Council as required by T.C.A. § 67-5-1701 et seq., unless required as result of an emergency.
SECTION 2. This Ordinance shall take effect from and after its passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Sponsored By: Lawrence Hart, Jerry Graves, Janis Sontany, Michelle Arriola, James Bruce Stanley, Don Majors, Frank Harrison, John Aaron Holt, Eric Crafton, Morris Haddox, Vic Lineweaver, Vic Varallo, Mansfield Douglas, Earl Campbell