Tennessee Conservative
Tennessee’s Collection Of Taxes And Fees Are Expected To Continue To Rise Over The Next Two Years, But The Rate Of Increase Won’t Match Its Recent Record-Breaking Pace, According To Estimates From The University Of Tennessee’s Boyd Center For Business And Economic Research.
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In Many Of The Cases, Rather Than Using Direct Funding Methods From City Or State Coffers, Tennessee Has Now Opted To Have A Portion Of Funding For The Bonds On Building Stadiums To Come From Sales Tax Zones. Those Funds Are Often Termed By Those Proposing Deals As User Fees. But Economists Say That Doesn’t Show The Full Impact.
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A Tax Fund Scheduled To Pay Off Revenue Bonds From Nashville Toward A New $2.1 Billion Tennessee Titans Stadium And Available For Future Maintenance Costs Is Estimated To Generate Up To $70 Million Annually During The Titans’ New 30-Year Proposed Lease, Which Includes Three Additional Five-Year Team Options To Extend.
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The Nashville Mayor’s Office Presented A Tax Deal For A $75 Million Renovation Of The Nashville Fairgrounds Speedway In Hopes Of Bringing A NASCAR Race Back To The Site. The Deal Is Similar To One Passed For The Tennessee Titans At Both Nissan Stadium And Proposed New $2.1 Billion Stadium Along With Bridgestone Arena, Geodis Park And Minor League Baseball Stadiums In Nashville, Knoxville And Chattanooga.
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Tennessee Is Rated As Having The 14th-Best Business Tax Climate In The Country, According To The Tax Foundation.
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Tennessee’s Tax And Fee Collections Continued To Rise In September With The State Collecting $2.1 Billion.
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Tennessee Gov. Bill Lee Was Given A “D” By The Cato Institute In Its Annual Fiscal Report Card On America’s Governors. Lee’s Ranking Was Based On His Spending And Taxing Record, Including This Year’s Budget, Which Included $500 Million Toward A New Titans Stadium.
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The Total Taxes Collected By Tennessee In The First Month Of The New Fiscal Year Continued Last Year’s Increasing Trend.
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In A New Poll, 61% Of Likely Voters In Tennessee Oppose The State Giving $500 Million Toward A New Tennessee Titans Stadium.
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A Portion Of Thursday’s East Bank Committee Meeting Was A Preview Of A Central Point Of The Metro City Council’s Ultimate Debate On Approving Nearly $2 Billion In Bonds That Will Be Paid For With An Estimated $1.5 Billion In Public Funds For A New Estimated $2.2 Billion Stadium.
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