Property Assessor It's BUDGET PROCESS TIME in Tennessee

May 10, 2024 at 08:32 am by WGNS


Murfreesboro, TN - Rutherford County Property Tax Assessor Rob Mitchell says, "As Tennessee counties begin the annual budget process it is important to remember that we are living in a very low tax state. That does not mean that things are not expensive for lower wage earners or becoming more expensive for everyone. To use this information in order to imply that more cannot be done to address inequities or improve operational efficiencies in government would be disingenuous and harmful. What may be inferred from the numbers is that in Tennessee the government (local and state) requires a very small portion of every citizen's income in order to operate."

Assessor's of Property track value and ensure equity in the property tax burden. We believe that an informed public can best direct our representatives and leaders how best to serve our collective needs.
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The states with the lowest tax burdens, ranked from the lowest first, based on the latest available data. Here's a list:

1. Alaska 5.36%
2. Tennessee 6.33%
3. New Hampshire 6.37%
4. Wyoming 6.63%
5. Florida 6.73%
6. Delaware 6.77%
7. South Dakota 7.03%
8. Montana 7.33%
9. Missouri 7.38%
10.Alabama 7.51%

Mitchell commented, "These percentages represent the total individual taxes paid divided by total personal income. Please note that tax burdens can vary widely based on individual circumstances and the specific mix of taxes in a state."


Sources:
(1) States With the Lowest Taxes | Best States | U.S. News. https://www.usnews.com/news/best-states/articles/states-with-the-lowest-taxes.
(2) States With the Lowest Tax Burdens | US News Best States. https://www.usnews.com/news/best-states/rankings/economy/business-environment/tax-burden.
(3) The States With the Highest, Lowest Income Tax Burdens. https://www.usnews.com/news/best-states/articles/2022-01-24/these-states-have-the-highest-and-lowest-income-tax-burdens-study-finds.
(4) Tax Burden by State 2023 - Wisevoter. https://wisevoter.com/state-rankings/tax-burden-by-state/.
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