Last week we explained what a fiscal year is and delved a little into property taxes as a major source of revenue. The first step in setting a tax rate is determining the countywide assessment, in other words, how much is property worth according to the property assessor? Last week we noted the countywide assessment for 2019 was nearly $3.85 billion. This week we’re going to look at how that brakes down geographically.
• Property inside the city of Kingsport makes up the largest single piece of the countywide assessment pie, at 45.5 percent of the total.
Non-incorporated county areas
• Property outside any of the cities makes up the second-largest piece of the countywide assessment pie, at 34.8 percent.
• Property inside the city of Bristol Tennessee accounts for 18.1 percent of the countywide assessment.
• Property inside the city of Bluff City accounts for eight-tenths of one percent of the countywide assessment.
• Property inside the portion of the city of Johnson City located within Sullivan County account for seven-tenths of one percent of the countywide assessment.
Coming up in Civics 101
• How are your county tax dollars spent?
• How much revenue comes from sales taxes?
• Which sections of the county generate the most in sales taxes?
Source: Sullivan County Department of Accounts and Budgets