Authorize Rounding of Property Tax Amount to the Nearest Dollar

WHEREAS, Tennessee Code Annotated, Section 67-5-102(a)(1), authorizes counties to levy an ad valorem tax upon all property subject to such tax; and,

WHEREAS, Tennessee Code Annotated, Section 67-5-102(a)(2), directs that the amount of such tax shall be fixed by the county legislative body of each county; and,

WHEREAS, the rounding of ad valorem property tax amounts to the nearest dollar would simplify and expedite the payment and collection of property taxes in the county;

NOW THEREFORE BE IT RESOLVED, the County Commission of _______________ County directs that individual ad valorem property tax amounts be rounded to the nearest dollar. Such rounding shall be applied uniformly to all property tax bills in the county for real and personal property, and shall be accomplished by rounding amounts ending in $0.01 to $0.49 down to the nearest dollar and amounts ending in $0.50 to $0.99 up to the nearest dollar. Such rounding shall apply only to the tax amount, and not to any interest or penalty added to delinquent taxes.

THIS RESOLUTION SHALL be effective for the 20__ tax year and subsequent tax years, the public welfare requiring it.


Adopted this _______ day of ____________, 20__.

APPROVED:



___________________________________
County Executive


ATTEST:



____________________________________
County Clerk