2021 TN INCOME TAX BRACKETS PLUS

Taxable properties in these small incorporated municipalities are subject to the GSD tax rate plus the satellite city’s rate, if any, as adopted by the legislative bodies of those cities. There are several other smaller tax districts as a result of “satellite cities” located within the GSD (Ridgetop, Goodlettsville, Belle Meade, Berry Hill, Forest Hills, and Oak Hill). The GSD, which are the areas outside of the USD boundary, a property owner would pay individually for these additional services. The USD tax covers the more extensive services provided to property owners, such as garbage pick-up, street lights and sidewalks provision not provided to those in the GSD. Davidson County’s different tax rate districtsĭavidson County has two primary tax rate districts, the General Service District (GSD) and the Urban Service District (USD). Also note that if the market falls, that same CTR law could result in a CTR higher than the prior year. To date, this was done (5) five times, but not during recent year reappraisals. Keep in mind that the Mayor and/or the Metropolitan County Council can set the CTR, then hold a public hearing and raise the rate. Only in a reappraisal year does the Office of Assessments participate in establishing the CTR by providing critical data to the State of Tennessee to set a CTR that is approved by the Mayor and the Metropolitan Council. Increased revenue is realized from “new” construction. The law, also known as “The Truth in Taxation Law,” provides that the CTR must not raise more revenues on existing construction than in the prior tax year. State law requires that a Certified Tax Rate (CTR) be set after each Mass Reappraisal to prevent local governments from realizing a windfall in tax revenues as a result of the Reappraisal. The tax rates for both the Urban Services District (USD) and General Services District (GSD) were passed by the Mayor and the Metropolitan Council in conjunction with the fiscal year 2023-2024 budget. The tax calculator showing your anticipated taxes for 2023 has been updated with the tax rates that become effective beginning fiscal year July 1, 2023.

2021 tn income tax brackets