JASPER, Tenn. - The Marion County Commission will examine a policy that could freeze property taxes for some residents ages 65 and older.
At the board's February meeting, County Attorney Billy Gouger said a state law governs the policy, which allows eligible taxpayers who are 65 and older and meet certain income guidelines to have the property tax rate essentially frozen on their primary residence.
"It doesn't apply to investment property," he said. "It doesn't apply to farmland or anything like that. It's limited to your principal residence only."
The board voted unanimously to refer the matter to its finance committee for review.
"I think we owe the citizens of Marion County that we look into this," Commissioner Mack Reeves said.
Gouger said 23 counties and 30 cities statewide have adopted the policy, which local leaders considered years ago and rejected.
"It was thought at that time that it was not in the county's best interest to do that," he said.
During the earlier discussion, Chairman Gene Hargis said commissioners found it would cost the county "a pretty substantial amount of money."
"I think it does need to be referred back to the finance committee to get us some numbers because, really, I don't see how we could even discuss it without knowing the pros and the cons and the amount of money that we're talking," he said.
The state-set income threshold for Marion County is just over $29,000.
"So you have to make less than that amount in order to qualify for the freeze," Gouger said.
Commissioner Tommy Thompson said applicants also have to apply to the program each year, and the freeze would apply to a maximum property size of five acres.
Whatever the board decides to do, County Mayor David Jackson said it couldn't meet this year's April deadline to adopt the freeze, and even if it did, the policy wouldn't become effective until the 2018 tax year.
Ryan Lewis is based in Marion County. Contact him at ryanlewis34@gmail.com.