NASHVILLE, Tenn. (WZTV) — Metro Council Member Tasha Ellis is urging the Tennessee General Assembly for a share of the state’s real estate transfer tax revenue and asking Nashville residents for help.
According to a press release, Ellis is advocating for Resolution RS2025-1616, which seeks to allow counties to collect impact fees on new developments and allocate 3% of the state’s real estate transfer tax to local infrastructure, affordable housing and senior home repair programs.
“Tennessee’s real estate transfer tax revenues have exploded 134% in the past decade—from $110.7 million to nearly $259 million—and Nashville sees none of it come back,” said Ellis. “Meanwhile, we have seniors forced to sell their homes because they can’t afford a $5,000 roof repair.”…