Tennessee Code Title 67. Taxes and Licenses § 67-4-2913

Current as of January 02, 2024 | Updated by Findlaw Staff

(a) After June 20, 2006, no county shall be authorized to enact an impact fee on development or a local real estate transfer tax by private or public act. In addition, this part shall be the exclusive authority for local governments to adopt any new or additional adequate facilities taxes on development. However, this part shall not be construed to prevent a municipality or county from exercising any authority to levy or collect similar development taxes or impact fees granted by a private act that was in effect prior to June 20, 2006, or from revising the dedicated use and purpose of a tax on new development from public facilities to public school facilities. A county levying a development tax or impact fee by private act on June 20, 2006, shall be prohibited from using the authority provided in this part so long as the private act is in effect.

(b) If, after May 21, 2024, a county that has exercised its right to levy a tax under this part prior to May 21, 2024, and in a new qualifying period does not satisfy the criteria under § 67-4-2907, then:

(1) The county may resume exercising the authority to levy and collect such development taxes under a private act in existence before May 21, 2024, at the rate in effect at the time the county exercised its right to levy a tax under 2024 Pub.Acts, c. 990; or

(2) The county may resume exercising the authority to levy and collect a privilege tax under this part at the rate the privilege tax was levied by the county under this part on January 1, 2024. A county levying the privilege tax pursuant to this subdivision (b)(2) shall not increase the rate of the tax, unless the county is eligible under § 67-4-2907.

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Cite this article: FindLaw.com - Tennessee Code Title 67. Taxes and Licenses § 67-4-2913 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-67-taxes-and-licenses/tn-code-sect-67-4-2913/

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