CUMBERLAND COMMISSION REQUESTS HALF OF REAL ESTATE TRANSFER TAX

The Cumberland County Commission voted yesterday on a resolution requesting the 114th session of the Tennessee General Assembly to allocate 1/2 of the real estate transfer tax to the county regularly.
The State of Tennessee imposes a real estate transfer tax of 37 cents per $100, and The County Commission argues that County governments have few revenue options available to them for funding the various services the commissions provide to their citizens, services mandated by state law.
And since County commissions and County governments are dependent upon property tax to fund these services as well as rapid population growth in many counties, the Board of Commissioners is requesting that one-half of the real estate transfer tax collected be allocated back to the county regularly.
The resolution was approved unanimously by the board.