Deadline Passes
| In June then in July, the Loudon City Council then the Loudon County
Commission passed a resolution to adopt an agreement that would give
Loudon manufacturing company, Tate/Lyle, a 10 year tax abatement or
what's known as a pilot program. The agreement would essentially set the
company's tax payment for Loudon and Loudon County at a lower, fixed
rate for the next ten years. The pilot was set to take effect January 1,
2017. One contingent of the agreement was that Tate/Lyle would drop the assessment appeals suit they brought against the county and city several years ago. The legal action has been ongoing since about 2011. Tate/Lyle is challenging their appraised value in an effort to lower their property tax obligation to the city and county. The agreement required that in turn for the ten year tax break all assessment appeals would be withdrawn within thirty days of the passage of the agreement. That agreement was passed by county commission on August 3rd starting the clock on the deadline for the all assessment appeals to be withdrawn. That deadline was yesterday. Tate/Lyle did not follow through with their part of the agreement and did not withdraw all assessment appeals. The agreement was proposed by Tate/Lyle and presented to Loudon City and Loudon County officials by Economic Development Agency director, Pat Phillips with the understanding that Tate/Lyle was in full fully supportive of the agreement. Below is the text of the relevant portion of the agreement.
Given Tate/Lyle's decision to violate the terms of the agreement, the assumption would be that the legal action on assessments is back on and Tate/Lyle will not receive a tax break. More information when available. |
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9/3/15