RESOLUTION NO. RS2001-481

A resolution requesting the Davidson County Delegation to the Tennessee General Assembly to support the adoption of legislation that would enable local governments to impose real estate transfer taxes.

WHEREAS, the Metropolitan Government is moving into a budget year with substantial needs for increased services along with employee pay increments for Metro employees, teachers and other school employees; and

WHEREAS, the Mayor and his staff are taking actions to increase the productivity and efficiency of all departments of the Metropolitan Government; and

WHEREAS, it is highly likely that additional revenue above current tax rates will be required to provide the necessary level of services our community desires and needs; and

WHEREAS, local governments are limited primarily to sales taxes and property taxes as major sources of revenue;

WHEREAS, state law presently imposes a tax on the transfer of real estate which is collected when deeds and other instruments conveying interest in real property are recorded with the register of deeds in the various counties; and

WHEREAS, there will be introduced into the General Assembly legislation supported by the county government organization seeking to have enabling ability to impose a local real estate transfer tax.

NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

SECTION 1. That the Metropolitan County Council hereby goes on record as requesting the Davidson County Delegation to the Tennessee General Assembly to adopt legislation that would enable local governments to impose real estate transfer taxes.

SECTION 2. That the Metropolitan Clerk is directed to send a certified copy of this Resolution to each member of the Davidson County Delegation to the Tennessee General Assembly.

SECTION 3. That this Resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Bob Bogen & Jason Alexander