DOE generates largest county taxes; automotive moves up in rankings
From Anderson County Mayor’s Office
CLINTON—In reviewing a list of Anderson County’s largest taxpayers, one fact is apparent—the U.S. Department of Energy and a privately owned, DOE-related facility are the county’s largest source of county property taxes.
“DOE annually pays approximately $630,000 of in-lieu taxes for the property it owns in the county,” said Anderson County Mayor Terry Frank. “When you add to that, the $934,000 of property taxes generated by the private LLC that owns the New Hope Center at the CNS Y-12 National Security Complex, the combined total is by far our county’s largest source of property tax revenue.
“Ten years ago, Anderson County’s top three taxpayers were Bell South, Summit Properties, and Boeing Inc. This year, manufacturing makes the splash as Anderson County’s top taxpayer is Lawler-Wood LLC, formerly known as Oak Ridge Project LLC (at the Y-12 complex), followed by automotive giants Samlip (SL) Tennessee, and Magna.
“Other significant sources of revenue that should be considered include in-lieu of taxes for another automotive industry titan, Aisin Automotive, at approximately $1.2 million. In addition to DOE, our top ten this year reflects a substantial automotive presence.” [Read more…]