Payment-In-Lieu-Of-Tax (PILOT) Program
Companies offering a large number of new jobs with higher wages and large capital investment may qualify for property tax reduction or abatement on both real and personal property taxes. These requests are negotiated with existing and prospective companies on a case-by-case basis.
An economic development fund fee is charged to each company qualifying for a PILOT program to underwrite the economic development activities of Rutherford County. For more information on incentives, please contact Brian Hercules, Vice President of Economic Development.
Industrial Revenue Bonds
Tax-exempt industrial revenue bonds are available to both existing and prospective companies with a qualifying manufacturing project. The financial strength of the company at the time that the bonds are taken to market will determine the rate of the bonds.
There is a $10 million cap on small issue bonds; however, there are a number of categories of projects that may be exempted from this limitation.
Under the Rutherford County Industrial Development Board’s jurisdiction, taxable bonds can be issued and loaned to eligible companies to acquire land, buildings or equipment. It is suggested that the company’s private bond council communicate with the Board’s legal counsel in order to identify the appropriateness of this financing alternative.
Fast Track Permitting & One-Stop Business Assistance Program
This program exists in Rutherford County in order to assist new and existing companies in their interaction with local, state and federal governmental agencies. The One-Stop Business Assistance Program provides a streamlined structure to access representatives of all applicable local, state and federal agencies in one meeting to outline services, answer questions, fulfill requests and solve problems. The One-Stop Business Assistance Program is designed to facilitate and expedite the permitting, licensing and regulatory processes within Rutherford County.
- Rutherford County property tax rate is $2.5652 per $100 assessment.
- The City of Murfreesboro tax rate is $1.2703 per $100 assessment.
- The Town of Smyrna tax rate is $0.9095 per $100 assessment (effective 7/1/13).
- The City of La Vergne tax rate is $1.00 per $100 assessment.
- The City of Eagleville tax rate is $0.7512 per $100 assessment.
- County personal property tax is 30 percent of appraised value.
- Commercial/Industrial taxes are 40 percent of appraised value.
- Residential taxes are 25 percent of appraised value.
- Local sales tax is 2.75 percent.
- State sales tax on food is 5 percent
- State sales tax on other tangible personal property is 7.00 percent