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noxville, Tennessee - County commissions across the state are pushing for resolutions that would ask lawmakers to share a portion of the real estate transfer tax collected annually. This tax is applied whenever a property changes hands, with the current rate being 37 cents per $100. According to data from the Department of Revenue, Knox County collected around $25 million from this tax last year but received none of it.

    "We're asking if half of it can stay here so we can help our budget locally," said Commissioner Larsen Jay. If implemented, Knox County could have received an additional $12.5 million. Cumberland County has already passed a resolution and stands to gain an extra $1 million from the tax, which would be used to fund various county needs.

    Blount County is currently working on a similar resolution, with a vote expected this Thursday. The National Association of Realtors opposes real estate transfer taxes, citing concerns over increased housing costs, reduced economic development, and volatility in revenue generation. Resolutions will be presented to state lawmakers for consideration, and Commissioner Jay believes a statewide effort could lead to positive change.