TN values corporations over the poor and elderly [View all]

Link to tweet

https://www.murfreesborovoice.com/article/5269/does-tennessee-value-corporations-more-than-homeowners

"As the Tennessee General Assembly gets ready to convene a special session about funding, buildout and oversight of Ford Motor Company’s plans for the Memphis Regional Megasite, the Tennessee Board of Equalization has rejected a plan from Shelby County that would reduce taxes paid by the poor and elderly property owners in favor of keeping corporate taxes lower.

The request from Shelby County Property Assessor Melvin Burgess would shift the state's most populous county from a four-year appraisal cycle to a two-year cycle.

"Burgess’ request would have increased relief payments to poor people in Shelby County but cut payments to corporations, which still would have benefited from lower property tax rates through equalization. State law prohibits automatic property tax increases following reappraisals that increase property values," Sam Stockard of Tennessee Lookout reported.

The request was approved by the Shelby County Commission but denied by the Tennessee Board of Equalization.

"The vote prevented reductions in tax relief payments for the elderly and low-income property owners, which are being cut by 15% annually. Corporations, meanwhile, received a 15% decrease on their assessed property values, according to experts," Stockard wrote."...(more)