RESOLUTION NO. RS2010-1319A resolution memorializing the Council’s intent to approve Tennessee Code Annotated Section 67-5-606(c) which permits proration of the annual personal property tax assessments of certain personal property affected by a disaster certified by the Federal Emergency Management Agency (“FEMA”).
WHEREAS, in addition to the many residents suffering damages to their homes, many businesses in Davidson County suffered severe personal property damage as a result of an historic flooding event in early May 2010; and,
WHEREAS, on May 4, 2010, President Obama declared several counties in Tennessee, including Davidson, a major disaster area; and,
WHEREAS, Tennessee Code Annotated Section 67-5-606(c) (“the Statute”) permits an Assessor, upon application of the taxpayer prior to September 1, 2010, to prorate the annual personal property assessments for commercial and industrial tangible personal property substantially damaged by a disaster in a county included in a FEMA declaration; and,
WHEREAS, the Statute provides for such a proration in instances where the total time the qualifying personal property was destroyed, demolished, or substantially damaged and not replaced or restored exceeded thirty (30) days; and,
WHEREAS, an Ordinance has been filed with the Metropolitan Clerk to formally approve the provisions of the Statute within the area of the Metropolitan Government; and
WHEREAS, it is in the interest of the citizens of The Metropolitan Government of Nashville and Davidson County that the Statute be approved.
NOW THEREFORE, BE IT RESOLVED BY THE METROPOLITAN COUNTY COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the Metropolitan County Council hereby expresses its intent to approve and adopt the provisions of Tennessee Code Annotated Section 67-5-606(c) (“the Statute”) and said Statute shall be applicable to The Metropolitan Government of Nashville and Davidson County.
Section 2. 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: Ronnie Steine
|Referred to:||Budget & Finance Committee|
|Introduced:||August 3, 2010|
|Adopted:||August 3, 2010|
|Returned Unsigned by Mayor:||August 9, 2010|