Tennessee Code 67-4-2902 – Purpose of part
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Terms Used In Tennessee Code 67-4-2902
- County: means a county or metropolitan government. See Tennessee Code 67-4-2903
- Development: means the construction, building, erection, or improvement to land by providing a new building or structure that provides floor area for residential use. See Tennessee Code 67-4-2903
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- Residential: means the development of any property for a dwelling unit or units. See Tennessee Code 67-4-2903
The purpose of this part is to authorize counties to levy a privilege tax on persons and entities engaged in the residential development of property, in order to provide a county with an additional source of funding to defray the cost of providing school facilities to meet the needs of the citizens of the county as a result of population growth.