Wednesday, June 21, 2006

Taxes up and taxes down

The news of Smyrna tax levels being increased is being reported in The Daily News Journal of Murfreesboro Tenneessee. The following details are given.
Property taxes here increased 23 cents per $100 of assessed value Monday night after the Town Council voted to hire 16 new workers.

Smyrna had a tax rate of 69 cents before the county property assessor's office issued a certified rate of 63 cents earlier this year. The average home in Smyrna has been appraised at $165,000. Based on that number, the 23-cent jump equals an increase of about $96 a year to a total of $360, about 37 percent higher.
This propsed budget will get it's final vote after a meeting scheduled for later this month.
The Town Council will meet in a Special Called Meeting on June 29, 2006 at 6:30 p.m.
Now compare Smyrna city taxes going up to the counties going DOWN.
The Rutherford County Commission's Budget Committee voted Wednesday to reduce the proposed property tax rate for the 2006-07 fiscal year from $2.70 to $2.66.

The committee in two separate votes chose to reduce funding from property taxes for the general fund budget by 3 cents, and funding from property taxes of the solid waste fund by 1 cent, and to use money from the county's fund balance to make up for it.
Good news and bad for land owners.

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