Time To Incorporate 6
| Last week I reported on the
Tellico Village Property Owners Association, TVPOA, plans to institute
an entrance tax on anyone buying a new or existing home in the village.
I was told by several, the POA was looking at the new tax being 5% on
the purchase price of the home. The new tax will require state
legislative assistance.
After I ran the story, I had several villagers contact me to say the entrance tax would actually be .5% on the purchase price of the home. I have reached out to several to try to find documentation on the actual amount. I haven't yet received confirmation on the actual tax. Whether 5% or .5% it will be a new tax on anyone buying into Tellico Village. The revenue would go to the POA. |
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6/10/24