2014 tax notices mailed to Sullivan County residents of Kingsport

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KINGSPORT – City of Kingsport 2014 Property Tax Notices have been mailed for Sullivan County residents, although residents living in the Hawkins County portion of the City will not receive a bill until the Hawkins County Commission sets a county tax rate.

The State of Tennessee Division of Property Assessments holds the release of tax billing information until each jurisdiction within a county has approved their individual tax rates. The Hawkins County Commission is set to meet again today to consider a county tax rate.

Sullivan County residents of Kingsport will be assessed at a rate of $2.07 per $100 of assessed value. In Tennessee, property owners do not pay taxes on the full appraised value of residential, commercial or industrial property.

Instead, property owners only pay on a fraction of the appraised value; 25 percent on residential; 40 percent on commercial / industrial; 30% on business personal property; and 55% on public utility properties. This is further reduced by the fact that taxes are then calculated on each $100 increment of assessed value.

In all, 27,429 tax notices were mailed to Kingsport property owners with a total billed value of $34.73 million, not include state-assessed public utilities.

Of the City’s General Fund budget, education is allocated the largest share of funding, at 19 percent or $13.6 million. Police functions are funded at 16 percent of budget or $11.4 million; Public Works including road maintenance, solid waste, landfill, brush and recycling, at 12.7 percent or $9.2 million; and fire/medical at 12 percent or $8.7 million.

Disabled veterans, the widows of disabled veterans and seniors over the age of 65 may be eligible for property tax relief through the State of Tennessee.

For disabled veterans and/or their surviving spouse, the veteran must have a 100 percent total and permanent service connected disability rating or other qualifying criteria. Tax relief is calculated on the first $175,000 of market value.

For seniors, tax relief is provide on the first $25,000 of market value. Homeowner annual income cannot exceed $28,270, with interest and dividend revenue counting towards income.

Applications for tax relief must be submitted prior to 35 days after the taxing jurisdiction’s first payment penalty date.

In all, the City collects about 97 percent of the tax levy in the year bills are issued. Penalties for non-payment begin to accrue on December 1, 2014 at 2 percent of the amount outstanding with an additional 2 percent accruing on January 1, 2015 and 1 percent added thereafter for each additional month of delinquency.

Anyone with questions concerning their tax statement or eligibility for tax relief should contact the Kingsport Customer Service Center at 423-229-9418.