Tate Lyle Did It
|Billion dollar, corn syrup maker, Tate Lyle made good
on their threat not to pay their full assessed, property tax for 2016.
T/L had sent a letter to the property assessor's office earlier this
year outlining their intent to short their tax payment by nearly a
million dollars based on an administrative judges opinion.
By the February 28th deadline, that's just what they did. Their tax payment was $960,463.00 less than what their current tax bill is. This is revenue that both Loudon County, Loudon City, Loudon County Schools and Lenoir City Schools already had calculated into their budgets for this fiscal year.
So right now, this tax year,
Loudon City lost $372,173.00
So, take that Loudon County tax payers. You will now have to pick up a large portion of Tate Lyle's tax obligation.