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Budget Constraints To Decrease State Relief For Property Tax

/ The Upper Cumberland's News Leader
Budget Constraints To Decrease State Relief For Property Tax

COVID will likely decrease the some $4.5 million of proposed state funding for counties that lost property tax revenues from the March tornado outbreak.

Representative Ryan Williams along with other state officials are working on a budget request for the relief. But, Williams said budget constraints have caused some uncertainty.

“In regards to all the monies that are flowing around the state as it relates to COVID, so it is very difficult to have discussion about this, because that seems to take all the air out of the room,” Williams said. “But, we are making progress. I am cautiously optimistic that we are going to be able to do something.”

Williams said officials look to narrow the funding to residential properties and drop commercial properties. Williams said this would lower the overall cost since damaged businesses in Davidson County was a main price driver.

“Most commercial properties have lose insurance, which would overcome that which is definitely an impact to our county, but most of the loses in Putnam County were residential properties,” Williams said. “It is my goal to fund as many of those as we can. But, the number that was driving that 4.5, 4.6 was commercial in Davidson County.”

While the total amount of money is still being discussed, Williams said it is his goal to make up the revenue lose for Putnam County.

“It would simply be a line item in the appropriations bill, which comes through the appropriation subcommittee of which I chair, as well as then through finance before it gets to the house floor,” Williams said. “We expect to be taking up the budget bills in the middle of the week next week.”

The property tax supplements was first drafted piece of legislation that passed in the House but was not picked up by the Senate due to COVID.


The post Budget Constraints To Decrease State Relief For Property Tax appeared first on News Talk 94.1/AM 1600.