The Tax Rate Shift: How It Could Impact Tennessee's Housing Market

Dec 26, 2024 at 11:35 am by WGNS Radio News



Welcome to the WGNS Action Line, where we dive deep into the pressing issues facing our community. In this episode, we sit down with Rutherford County Property Assessor Rob Mitchell, who highlights an urgent crisis in affordable housing affecting Tennessee. With a growing trend among property assessors to reclassify residential rental properties from a 25 percent residential tax rate to a staggering 40 percent commercial tax rate, the impact on rental prices and local landlords would be severe.

Tags: affordable housing commercial tax rate Community homes for families housing crisis housing market investment companies Landlords mom-and-pop landlords Property Assessors rental prices residential properties residential rental properties Rob Mitchell Rutherford County Property Assessor safeguarding housing tax rate Tennessee WGNS Action Line working-class Tennesseans
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