RUTHERFORD COUNTY, TN - It is important we value the contributions of our long-term homeowners who have dedicated years to building vibrant communities. The current property tax relief program provides essential support to homeowners aged 65 and above, and who meet minimum income requirements.
This proposal seeks to expand the program, offering these golden homeowners a full reimbursement of their property taxes. Property values and property taxes in Tennessee have escalated to the point of driving our elderly, fixed-income citizens out of their homes. Rutherford County Assessor of Property Rob Mitchell told WGNS, “We have a moral obligation to recognize this assault on our senior’s financial security and act.”
Benefits of the Proposal – Mitchell says the expansion of the property tax relief program brings forth numerous advantages (see below).
- Firstly, it offers critical financial relief to long-term homeowners, many of whom rely on fixed incomes. By alleviating their property tax burden, it enables the homeowner to remain in their home.
- Secondly, as these homeowners experience increased financial flexibility, local economies will benefit from their additional spending, fostering growth and prosperity. For the same reason that tax breaks are given to businesses, this potential program could extend tax breaks to golden homeowners.
- Lastly, an expanded program will position Tennessee as an appealing destination for retirees, attracting valuable residents who will contribute to the well-being of the state with minimal impact on the local infrastructure and services provided by non-profits and governmental departments.
Cost of the Proposal - The estimated annual cost of implementing this expansion across all 95 counties in Tennessee is unknown, due to many limiting variables which could be put into place. Mitchell wrote, “We recognize that this investment requires careful consideration. However, it is crucial to view this proposal as an investment in the welfare of our long-term homeowners and the overall prosperity of Tennessee.”
Conclusion - Assessor Mitchell suggested, “… expanding the property tax relief program for long-term homeowners is a testament to our commitment to fostering strong communities and honoring the dedication of our residents. By supporting our valued homeowners, stimulating local economies, and attracting retirees, we lay the foundation for a more prosperous and welcoming Tennessee.”
The Rutherford County Assessor of Property urges residents to join-in on the idea to make the proposal a reality. He says such a program would ensure a brighter future for Tennessee and its cherished residents. He closed with, “Together, we can build a stronger Tennessee for generations to come.”
