WHEEL TAX

TELLICO VILLAGE RELIEF ACT?
Guest Commentary by: Richard Truitt
From The Hunter Report

Commissioner Miller mentioned in his Finance 101 Class that the people at the bottom simply couldnít afford to absorb a huge increase in property taxes.  Then, in the next sentence, he says a proposed $50.00 wheel tax would help the situation. 

What is happening is that the property tax is being taken off the more wealthy and placed on the people at the bottom.  They would be much better off paying the property tax. 

 

The Wheel tax issue will be voted on at the June 2nd commission meeting. This idea has been floated by Don Miller, 7th District Commissioner, Tellico Village resident.  He has commented that a $50.00 wheel tax would equal 20 cents on the property tax.  Letís look at what 20 cents on the tax rate looks like.

 

Residential Property Value assessed at 25 percent

$1.84

Current county property tax rate

$2.04

(20-cent increase)

Difference

 

$1,000,000

$4,600

$5,100

$500

$   500,000

$2,300

$2,550

$250

$   200,000

$   920

$1,020

$100

$   100,000

$   460

$   510

$  50

$     50,000

$   230

$  255

$  25

 

Itís clear, by this table, that the wheel tax favors the more affluent over the less affluent. All people in the county pay property taxes, one way or another.  Renters pay property taxes.  Itís figured in the bill.  Twenty (20) cents on a million dollar home is $500.00. Twenty (20) cents on a $200,000 home is $100.00.  Twenty (20) cents on a 100,000 is $50. Twenty (20) cents on a 50,000 home is $25.00. If each family has two cars, itís easy to see who benefits.

 

Mr. Miller said something about how everybody can have their own opinion but not their own set of facts.  Mr. Miller should look at this table and take a hard look at the facts.  The wheel tax seems to favor residents like the  Villagers over the rest of the county.

 

What you have here is Robin Hood in reverse.  Taking from the poor to give to the rich.  Oh, these stubborn facts.

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6/2/08