It will be a long drawn out war for property taxation independence in Davidson County.
Today’s Tennessean reports that having a clear 77% majority in favor of the tax-capping amendment is apparently not enough. Some of our elected officials don’t agree. They don’t want those property ATM machines generously supplied by landlords, investors, and homeowners closed.
Let this be a lesson to everyone. We know now it will be a long fight for fiscal responsibility in Davidson County. My guess is counties across the nation are experiencing the same problems we’re having in Middle Tennessee. Good luck.
Here’s an overview. Davidson County is having a nuclear growth spurt. I call it nuclear because it now takes me up to twenty minutes to pull into the Green Hills Mall from my house that used to be less than one radio song selection away. (In all fairness that’s during certain hours of the day when main artery, Hillsboro Road, becomes a parking lot. But that’s usually when I want to get out. Not after dark).
That means one thing. [tag-tec]Property values[/tag-tec] are going up. At first we watched with glee as our home values shot into the stratosphere. Then came the tax increases. One, two ,three. I think it’s bad for business when it’s necessary for many landlords to have a "tax tenant". In other words, most and maybe all, of that tenant’s rent goes for taxes.
Here’s what’s happening now. There will be court challenges to the constitutionality of the amendment. Since another property tax rate increase actually has to be proposed to set off a court challenge it will be several years before a future mayor tries it. That’s because our current mayor had already increased the taxes as high as they would go, for now.
If a [tag-ice]tax[/tag-ice] increase is proposed then a long court battle with lots of money being spent by both sides will probably happen. The Metro budget will get clogged up like a malfuntioning garbage disposal. That means delays. It may be years before all of this is finally ironed out.
Here’s the warning. The people have spoken. They don’t want a property tax rate increase. How hard is that to understand? Why can’t our officials get it?
The smart ones will. Who are they? Time will tell.
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