SUBSTITUTE RESOLUTION NO. RS2001-637

SUBSTITUTE RESOLUTION NO. RS2001-637

A substitute resolution establishing the certified tax rate in the General Services District, and declaring the amount of the certified rate for the Urban Services District, pursuant to the provision of Tennessee Code Annotated, § 67-5-1701, et seq.

WHEREAS, Tennessee Code annotated §67-5-1701, et seq., requires that the Metropolitan County Council establish a certified tax rate at the conclusion of a county-wide reappraisal program; and

WHEREAS, Tennessee Code Annotated § 67-5-1701, provides that the certified tax rate will be the rate necessary to produce the same ad valorem revenue for The Metropolitan Government of Nashville and Davidson County as was levied during the previous year exclusive of new construction, improvements and deletions; and

WHEREAS, pursuant to the provisions of Tennessee Code Annotated § 67-5-1701, the Executive Secretary of the State Board of Equalization has approved a rate of $2.96 on each $100 assessed value of all property, real, tangible personal, intangible personal and mixed, as the certified tax rate for the General Services District; and

WHEREAS, pursuant to the provisions of Tennessee Code Annotated § 67-5-1701, the Executive Secretary of the State Board of Equalization has approved a rate of $0.74 on each $100 assessed value of all property, real, tangible personal, intangible personal and mixed, as the certified tax rate for the Urban Services District; and

WHEREAS, based on the certified tax rates set forth above, an amount equal to $0.09 per $100 of assessed value of the Urban Services District collected as a part of the General Service tax levy shall be deposited to the credit of the General Fund of the Urban Services District.

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

SECTION 1: That the certified tax rate for the General Services District shall be $2.96 on each $100 assessed value of all property, real, tangible personal, intangible personal and mixed.

SECTION 2: Pursuant to Section 6.07 of the Charter, BE IT HEREBY DETERMINED AND DECLARED that the Urban Council is hereby directed to establish for the Urban Services District a certified tax rate of $0.74 on each $100 assessed value of all property, real, tangible personal, intangible personal and mixed.

SECTION 3: That an amount equal to $0.09 per $100 of assessed value of the Urban Services District generated from the General Service District tax levy of the certified tax rate shall be deposited to the credit of the General Fund of the Urban Services District.

SECTION 4: 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: Howard Gentry

LEGISLATIVE HISTORY
Referred to:	Budget & Finance Committee
Substitute Introduced:	June 26, 2001
Adopted:	June 26, 2001
Approved:	June 27, 2001
By:

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Last updated: 06/27/01