The City of Spring Hill, split between Maury and Williamson Counties, unanimously approved tax rates at a significant moment in the municipality’s growth and development.
Thanks to a fully supported amendment from Alderman Matt Fitterer, the property tax rates for the Williamson and Maury County segments of Spring Hill are equivalent at 73.9 cents per $100 of assessed value. The confluence of both rates comes at a landmark moment in the city’s growth, as evidenced by the fact that the assessed value for the city as a whole topped $2 billion for the first time.
“It’s kind of odd, but the rates are the same for both,” said City Administrator Pam Caskie. “This is what you guys have always wanted to achieve, and it worked this time. […] It should also work for the next two years because of the way the assessments are done. After that, we’ll see how it goes.”
Back in January 2021, city staff projected the new tax rate for the fiscal 2023 year would come in $5,000 less than what it is now expected to generate.
“We got it right,” Caskie remarked.
This is the latest of incessant examples that demonstrate the city’s growth, making a significant impact on the decisions elected officials make. Back in April, the rezoning of little less than 720 acres in favor of industrial development instead of residential proved somewhat contentious. The decision stopped a potential development of as many as 1,400 houses from coming to fruition.
The move was characterized as a way to lay the groundwork for the rapidly growing residents of the city to be enticed in the future to stay in Spring Hill during the day to work and spend money. The city currently finds itself in a possibly compromising position with the local population booming but commuting out of the city to restaurants and retail opportunities in other cities, which means sales tax revenue is not growing with the population.
While property tax milestones also reflect growth, they will not compensate for sales tax shortfalls as more people keep moving to what was named the tenth fastest-growing city in the U.S. in both 2020 and 2021. The Census Bureau reported last month that Spring Hill’s population last year had grown 5.4 percent since 2020. Though not comparable to Nashville by sheer population, Nashville’s rate of growth did not make the top 10.