Wednesday, March 30, 2011

Yikes, Farragut, TN looking at a Property Tax

Just a thought...why not look at reducing spending!!

Even with some expected increases, Smoak said the Board should look at alternative revenue sources including property taxes.

“This one I just want to throw up there so everyone knows. It’s just one of those things to look at,” Smoak said.

“For every one cent of assessed value property in the Town, that would bring in an additional $74,500 in revenue. I just wanted to let you see that,” he added.

The Board didn’t vote on any of the budget workshop items — the workshop was for discussion only.

Other possible revenue sources include business licenses, hotel and motel taxes, stormwater management fees and automobile tags.