Here’s how to properly calculate your property tax bill
Not sure how to calculate your property tax bill? Here’s how to do it properly.
- Starting Jan. 1, 2027, the new district will begin generating about $1.5 million annually from the 543 commercial and residential property owners within its boundaries.
Following a brief public hearing Dec. 16, the Metro Nashville Council granted final approval for the city’s newest business improvement district in Midtown.
The group voted 30-2, with council members Ginny Welsch and Terry Vo opposed, to approve establishing the district on its third and final reading before the group. At-large council member Delishia Porterfield abstained.
With that vote, the Midtown Central Business Improvement District can move forward. It’ll begin collecting what’s essentially a voluntary supplemental tax on commercial and residential property owners Jan. 1, 2027. All told, 543 property owners in the area around Music Row and Vanderbilt University will collectively be kicking in enough money to generate about $1.5 million annually.
It’s an initiative that District 19 council member Jacob Kupin says has been embraced by the Nashvillians within the new district’s boundaries. At the Dec. 16 meeting, Kupin said this was “how legislation should be,” as the idea started with community members, grew into a steering committee and became better through the council approval process.
“The council does have to approve the budget, council members have oversight over the board, so this really is something that creates a tight relationship between our council and this (business improvement district),” Kupin said. “And at the end of the day, this is about neighbors. Neighbors want to do this; they want to put some money into their community. They want to be part of what shapes it.”
The Midtown district joins the Downtown Central Business Improvement District around Lower Broadway, which has been in place for about 25 years and will absorb a neighboring district encompassing the Gulch in 2027.
Austin Hornbostel is the Metro reporter for The Tennessean. Have a question about local government you want an answer to? Reach him with questions, tips and story ideas at ahornbostel@tennessean.com.
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