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Monterey Alderman To Consider Tax Relief For Shopping Center

/ The Upper Cumberland's News Leader
Monterey Alderman To Consider Tax Relief For Shopping Center

A shopping center owner asked the Monterey Aldermen for a break on his property tax bill because the property is frequently used for town events.

Brad Vaughn told the Aldermen Monday night that the shopping center parking lot containing a Dollar General and Monterey Drugs is used for almost all town park activities. The property is located off Elmore Street next to Whitaker Park and the Monterey Tee-ball fields. Vaughn said cleaning the lot after games and town events costs some $2,500 annually.

“All the tenants there are contributing heavily to the sales tax, and I’ve tried to drill down that number of what that number looks like there,” Vaughn said. “But I would say that probably two of the anchor tenants probably pay in or collect probably $40,000 or $50,000 a month.”

Vaughn said he wants to do what is best for the city of Monterey, but he believes tax relief is a reasonable request. The Aldermen scheduled a meeting for 10am Monday to discuss a resolution.

Alderman Bill Wiggins said the city and the finance committee should begin working on the issue “pronto.” Wiggins said before the Aldermen could give Vaughn a firm answer, they would need to study the request and put a number on the relief price that works for both parties.

“As most of you know, I’m full Monterey committed, a good steward of the community, but in light of all that, we would like to ask for some property tax relief,” Vaughn said.

Vaughn purchased the property in early 2021 under Vaughn Investment Properties LLC. Vaughn said for some perspective, just lighting the parking lot costs $4,300 per year.

Vaughn said he also had the lot resealed and restriped this year which cost some $10,000. Between the good that the lot does for the community and the work he does personally to help maintenance personnel clean the lot after events, this is a fair request.


The post Monterey Alderman To Consider Tax Relief For Shopping Center appeared first on News Talk 94.1/AM 1600.