Tennesseans still reeling from the effects of Hurricane Helen will have to pay state property taxes unless lawmakers come up with some relief.
State residents and their political leaders have been debating property tax issues for months since Hurricane Helen devastated the region in late September.
A few weeks after the storm, the IRS intervened and deadline has been postponed At least Carter, Claiborne, Cocke, Granger, Greene, Hamblen, Hancock, Hawkins, Jefferson, Johnson, Sevier, Sullivan, Unicoi, and Washington counties.
An IRS press release states, “The penalty for payroll and excise tax payments due after September 26, 2024, but before October 11, 2024, applies until the tax is paid until October 11, 2024. “As long as it is carried out in a timely manner, it will be reduced.'' Published on November 7th.
Nashville leaders have not yet formally adjusted, suspended or extended property taxes at the state level, but at least one bill is in the works.
Republican state Rep. Tim Hicks supported the measure, which would provide significant relief to affected residents. If the measure becomes law, “flood-damaged homes and families will be exempt from paying property taxes in 2024, and property taxes will not be levied again until their properties are restored.” ''' Hicks explained. WCYB.
Similar tax exemptions will apply in the event of future disasters.
“I think every legislator in the state would support this,” Hicks said.
“That would mean a lot. It's a lot.”
Hicks told WCYB that lawmakers are already scheduled to meet next month and intend to convene a special session to vote on the bill and other Helen-related bills before the February property tax filing deadline. That's what he said.
“We are trying to do all the relief work we can here.”
For months, state officials have expressed concern about the plight of Tennessee's storm victims. Back in November, Tennessee State Comptroller Jason Manpower said: WJHL “The Legislature and the Governor [Bill] Mr. Lee has a strong desire to help affected property owners. ”
But what that “help” should be has not yet been determined.
For example, some officials say the affected properties (most of which are located in Northeast Tennessee) will enjoy normal values by about three-quarters of the year in 2024, and some He pointed out that the owner has already paid the tax in full. Tax relief may therefore be in the form of subsidies granted pro rata or retroactively, among other possibilities.
“The key to helping them is knowing exactly how much damage has occurred and the extent of the damage.” [is] People struggled with their homes and jobs. So we've been working with assessors since the storm hit,” Manpower said.
He added: “We want to make sure that by the time Congress returns in January, they have a good understanding of the amount and the extent of the harm that people have suffered so they can provide the best possible assistance.”
For residents like David Harris and his wife, who have been living in a camper on a property in the Nolichucky River Valley between Knoxville and Winston-Salem since Helen wiped out their homes, relief may not come soon. It shouldn't come.
“This is significant because when you lose everything, you have to replace something,” David Harris told WCYB. . ”
“I don't want to think about property taxes right now.”
H/T: matt van swoll
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