At a meeting last week of the county's budget committee, County Mayor Richard Venable, chairman of the group, noted Sullivan County is the sixth-wealthiest county in Tennessee, although it is only ninth in population.
Members of the committee were looking over the property assessor's 2019 countywide assessment. The gross amount: nearly $3.93 billion ($3,928,360,923 to be exact).
The total assessment determines what each penny of a county's property tax rate will generate.
According to the taxpayer-funded County Technical Assistance Service at the University of Tennessee, each penny of Sullivan County's tax rate would generate $394,010, and that does rank Sullivan sixth in the state. That figure, however, is before deductions for public utility adjustments and tax increment financing projects, and is based on 100 percent of taxes billed being collected during the budget year. Sullivan County bases its budget on a collection rate of 96 percent.
The top five counties in the state, ranked by how much a penny generates in property tax revenues, according to CTAS:
• Davidson - $3,097,408
• Shelby - $2,002,820
• Williamson - $1,220,104
• Hamilton - $1,008,652
• Knox - $527,043