KNOXVILLE, Tenn. (WVLT) – County commissions across Tennessee are working on resolutions asking state lawmakers to share a portion of the real estate transfer tax it collects every year.

This tax is used whenever a property, home or commercial property, is sold. The current rate its at is 37 cents per $100.

According to the Department of Revenue’s data, Knox County collected around $25 million from this tax last year, but the county didn’t get any of that money.

“It’s a tax going directly to the state, but we’re asking if half of it can stay here so we can help our budget locally,” Knox County Commissioner Larsen Jay said.

This means Knox County could have received $12.5 million if this was in effect last year.

A county that’s already passed a resolution to send to state lawmakers is Cumberland County.

State data showed Cumberland County brought in about $2 million from this tax. Getting half would mean an extra million dollars for the county.

The county’s mayor, Allen Foster, said this extra money would help pay for a lot of things within the county.

“We’ve got needs from everything from schools to roads to everything in between, so it could be a myriad of things,” Mayor Foster said.

Blount County is currently working on a resolution to vote on and send to local lawmakers. The vote is expected on Thursday.

The National Association of Realtors is opposed to the idea of a real estate transfer tax.

Some of the group’s reasons include:

• Have a negative impact on housing costs and economic development
• Reduce housing opportunities across the income spectrum
• Are a particularly poor revenue source for the general operating budgets of state and local governments because of their extreme volatility

The organization also opposes any increase in the real estate transfer tax.

Resolutions will be presented to state lawmakers, and they make the decision if the county can cash in on the tax.

Commissioner Jay said with a statewide effort, it could be something state leaders consider.