Bill > HB1434

This bill amends a previous local act for Hardeman County by increasing the assumed property tax collection rate from 85% to 92% when setting the county's general tax rate and creating the county budget for the next appropriation year. The change requires approval by a two-thirds vote of the Hardeman County legislative body, and once approved, must be certified to the Tennessee Secretary of State. The bill is designed to give the county more accurate budgeting flexibility by assuming a higher percentage of expected property tax collections. Specifically, the bill modifies Section (3)(a) of Chapter 68 of the Private Acts of 1937, as previously amended by Chapter 63 of the Private Acts of 2003, by replacing the existing 85% rate with a new 92% rate. The act will be effective upon becoming law for approval purposes, and for all other purposes, it will become effective after receiving the required local legislative approval.

Government Affairs

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB1434&ga=114