Lenoir City Approves $1.06 Tax Rate
Employees will not receive pay increase
Budget Approved - $53,768 in Black
By: Pat Hunter
June 28, 2009
Lenoir City adopted the 2009 city property tax rate of $1.0615 per $100 of assessed property value for property located within the corporate limits of the City of Lenoir City. Lenoir City approved on 2nd reading the FY 09-10 Budget for the city and Lenoir City schools.
Recorder-Treasurer Bobby Johnson, JR., explained how he had spoken to Chuck Jenkins, Loudon County property assessor about the new certified tax rate. Originally the suggested certified tax rate was thought to be $1.0472 but after speaking to Jenkins, Lenoir City Council approved $1.0615 as the new certified property tax rate. The prior tax rate was $1.30 per $100 of assessed property tax. According to the Tennessee Comptroller website, “The law requires the counties and cities to reexamine property tax rates after a reappraisal to make sure higher taxable values do not automatically result in a tax increase.”
Loudon County reassesses properties every 4-years while many other counties re-assess properties every 5-year or 6 –year cycle. Recently, assessor Chuck Jenkins went before Loudon County Commission to seek their approval to continue re-assessing properties every 4-year cycle. More frequent re-assessment cycles pretty much guarantee a steady supply of more tax dollars for officials to spend.
In other budget news, Lenoir City employees will not receive a pay raise this year due to a bad economy and tight budget but they will be able to participate in a wellness clinic, which was approved by Council. Lenoir City pays 100 percent of an employee’s insurance benefit and they are offered a pension plan. That’s not too bad for a little city under 10,000 residents.
Lenoir City Council also approved the disbursement of $25,000 to the Loudon County Visitor’s Bureau. All council members voted Aye with the exception of Councilman Bobby Johnson, Sr., who passed. According to Vice Chairman Eddie Simpson, RIDA funds from TVA will be used for the Visitor’s Bureau. The Visitor’s Bureau was originally set to receive $20,500 before the amount was increased to $25,000.
The Lenoir City School Budget for FY 09-10 was also approved. Lenoir City School is planning a school expansion that will accommodate growth for 10-years. Bonds were approved by Lenoir City Council for that purpose.