Fentress Asking For Half Of Real Estate Transfer Tax

Fentress County Commissioners approved a resolution that will request the General Assembly allocate one-half of the real estate transfer tax to the county.

Fentress County Executive Jimmy Johnson said the county is only requesting 50 percent of the transfer taxes collected in Fentress County. Johnson said on a four-year average, the county’s register of deeds office collects $618,000. Commissioner Kim Davidson said the money would be helpful to the county.

“Our county is growing so fast there is so much more need for county services and for the infrastructure,” Davidson said. “So this will just give the county back some money without putting another tax on the taxpayers. It said that it is already being paid so I mean I think it’s fantastic if we can keep that money here.”

The resolution came from the State Association of County Mayors, in an attempt to find additional revenues for local governments. Johnson said the money would help the county’s budget as the county does not have many means of revenue.

“The only thing the county has is what grass that we get,” Johnson said. “And then of course our rural land tax value that’s where a majority of our money comes from is that you operate the general fund on.”

Johnson said he is hopeful the proposal would be passed by the assembly even if it is not the 50 percent they are asking.

“I think the office gets like two percent is all they get for taking care of it,” Johnson said. “It was money that came from each county and they are hoping to get at least 50 percent of it is already asked for through the state. Different projects but hopefully they will let us have maybe 50 percent of it back or maybe less but just try to get to something back.”

Johnson said a percentage of the money would go to the Highway Departments to get them involved in it.