La Vergne Sets Property Tax Rate

LA VERGNE, TN -- With the jump in property values, La Vergne's property tax rate was already set to drop, but the city's board of mayor and aldermen lowered it further still Thursday.

At a special meeting, the board approved the 2018-19 budget and set the tax rate at 71 cents per $100 value.

After the quadrennial county-wide reassessment, Rutherford County Tax Assessor Rob Mitchell's office recommended a city rate of $0.7585, which was initially rounded down to 75 cents. That was already 20 cents lower than the 2017 rate. State law requires local governments to adjust property tax rates after reappraisals to maintain revenue neutrality. Those with property that increase in value beyond the median increase would see their tax bills go up, while those below that median would see it go down. La Vergne's median increase was a whopping 49 percent.

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At Thursday's special meeting, Mayor Dennis Waldron moved to lower the tax rate to 71 cents.

"The lowered rate will ensure most folks in the city will not see a higher property tax bill later this year. The ones who were hit by the highest property assessment change were mostly rental properties,” he said.

Courtesy property tax bills will be sent out to residents the first week of October. Payments are due without penalty by Feb. 28, 2019. Bills can be paid in person at the City Hall Tax Department, placed in the drop box, or through the mail.

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