February 20, 2024

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Officials pursuing resort tax raise to fund it

State and neighborhood officers are pursuing a third main funding stream to help protect the huge invoice for Nashville’s proposed new professional soccer stadium.

Rep. Bill Beck, D-Nashville, submitted an amendment to a monthly bill in the House finance subcommittee Wednesday opening the door for the Metro Council to think about raising the city’s hotel-motel tax to set further revenue toward a new Tennessee Titans stadium.

The bill handed its first hurdle in the Dwelling finance subcommittee on Wednesday. The legislation now heads for a comprehensive committee listening to in the Property and Senate subsequent week. 

The present Nashville lodge-motel tax is 6% and the bill would make it possible for community officers to elevate the tax up to 7%. A 1% increase is probably to deliver $10 million in added income, in accordance the Tennessee Standard Assembly Fiscal Critique Committee.