Below is our current tax relief program which is 50 years old!

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Low Income Elderly and Disabled

Age 65 or Disabled

Total Annual Income: $33,460

Maximum Portion of Market Value Applicable to Reimbursement: $30,900

The Numbers:

1500 sq/ft home valued at $375,000 in Rutherford County will pay $1759 in county property taxes.

The maximum reimbursement they are eligible to receive is: $145.

[The math: $30,900 value x .25 assessment factor = $7,725 assessed value. (Assessed value) $7,725 x (tax rate) .018762= $144.93 rounded to $145.]

Disabled Veterans

Service-Connected Disabled Veteran

No Income Limit, (Sacrifice Qualified)

Maximum Portion of Market Value Applicable to Reimbursement $175,000

The Numbers:

1500 sq/ft home valued at $375,000 in Rutherford County will pay $1,759 in county property taxes.

Maximum reimbursement they are eligible to receive is: $821.

[ The math: $175,000 value x .25 assessment factor=$43,750 assessed value. (Assessed value) $43,750 x (tax rate) .018762= $1,750.50 rounded to $1,751.]

It must also be noted that next year these reimbursements will be reduced by the assessment ratio percentage. In Rutherford County that will be at least 15%. This is the same percentage by which utilities, transportation companies, airlines assessments and commercial and industrial tangible personal property assessments are lowered. (Business taxes paid are reduced while the states most vulnerable have their taxes raised.