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The finance department is under the direction of the city recorder and is responsible for managing the financial resources for the City of Loudon. The department is responsible for the collection of all revenues for the city including but not limited to: property tax, business tax, beer and alcohol taxes, fines and court costs and permit fees. The department is also responsible for all expenditures of all city funds. The city recorder is also the custodian of the city’s public records including the minutes of the city council meetings as well as ordinances and resolutions.
Payments can be made with cash, check, debit card or credit card. Credit cards accepted are VISA, MasterCard and Discover. There is a 3% surcharge on credit card charges. There is no surcharge on debit cards when presented in person and a PIN is entered. Payments can be made in person at 201 Alma Place or mailed to P.O. Box 189; Loudon, TN 37774.
Property Taxes can be paid online. A surcharge will apply.
The current property tax rate is $1.0287 per $100 of assessed value. Property taxes are due on October 1 and must be paid by the last day of February each year or penalty and interest of 1.5% will be added the first day of each month until paid.
Property taxes remain in the name of the recorded owner as of January 1 of the tax year. New owner notices are prepared by the State of Tennessee based on deed changes made from January 1 until approximately August 1. If ownership changed during the year and a tax notice was not received, the owner needs to contact the city recorder’s office at 865-458-2033 to obtain the information. Tax information will be provided to mortgage companies upon their request.
Appraisals for property tax for both the City of Loudon and Loudon County are done by the Loudon County Property Assessor. For further information, please visit the property assessor’s web site www.loudoncountyassessor.org/.
Address changes should be made by contacting the Loudon County Property Assessor at 865-458-2059.
Prior to opening a business within the City of Loudon the owner is required to obtain a business license. They must register with the city recorder’s office. An application must be completed and submitted along with a $15 registration fee to City Hall or mailed to: City of Loudon; P.O. Box 189; Loudon, TN 37774.
Application for Business Tax License>>
Effective January 1, 2010 the Tennessee Department of Revenue began collecting business tax. See the Department of Revenue’s website for forms and information:
http://www.tennessee.gov/revenue/tntaxes/business.htm
Businesses that were delinquent on January 1, 2010 have to file their business tax return with the city recorder’s office until their status is current or until the Department of Revenue takes over the collection of the delinquent taxes.
CONTRACTORS – BUSINESS LICENSE
IN STATE
If a contractor domiciled in the State of Tennessee does $50,000 or more of business in the city limits of the City of Loudon from October until September of any year, the contractor is liable for business tax in the City of Loudon. A business tax application must be completed and submitted along with the $15 application fee. If at the end of a contract the contractor will not be doing any more work in the City of Loudon, he/she should contact the Tennessee Department of Revenue to close out the business within the City of Loudon and pay the taxes based on the gross amount received less any deductions. That gross amount can be deducted from the business tax paid to the city in which the business is domiciled.
OUT OF STATE
Out of state contractors are required to get a business license regardless of the amount of the contract. In addition to obtaining a business license, cash must be deposited with the city recorder or a Surety Bond must be submitted in the amount of the anticipated tax liability. For example: If the contract is for $1 million, $1,000 tax liability plus $7 administrative fee for a total of $1,007.00 must be deposited with the city recorder or a Surety Bond must be submitted for that amount.
An application for a business license as well as the Out of State Contractor form must be completed.
Out of State Contractor Form
When the contract is complete, the contractor should contact the Tennessee Department of Revenue to file a final return. When the city recorder is notified by the Department of Revenue that the contractor has closed out the license by paying the taxes due, any cash held in escrow will be refunded to the contractor.
SUBCONTRACTORS
The same rules listed above apply to subcontractors.
In order to take the deduction for subcontractors on the business tax return, the business license number or contractor number must be included on the form provided by the state. The form can be obtained at their website http://www.tennessee.gov/revenue/tntaxes/business.htm
BEER PERMITS
Businesses that desire to sell beer either off-premise or for on-premise consumption must complete the appropriate application, and pay a non-refundable two hundred and fifty dollar ($250) application fee. Applications must be approved by the City of Loudon Beer Board before it can be sold legally within the City of Loudon. The pro-rated $100 annual privilege tax will be due at the time of receipt of the license.
The beer board meets on an as needed basis with special called meetings. Application should be made at least two (2) to three (3) weeks prior to the date the owner of the business desires to begin beer sales.
The holder of a beer permit may not sell, assign or transfer such license to any other person. When a business closes the permit should be returned to the city recorder.
Beer permits expire on December 31 of each year. There is an annual $100 privilege tax. Notice will be sent to the businesses on December 1 of each year and will be delinquent the following January 31.
Information about beer permits and regulations can be found in Chapter 8 of the Loudon Municipal Code.
Chapter 8 Municipal Code: Beer>>
Application for Beer Permit>>
The City of Loudon allows the sale and consumption of liquor with an alcoholic content of five percent (5%) if properly approved by the Tennessee Alcoholic Beverage Commission (TABC). The TABC determines the cost of the city liquor permit, which must be paid annually to the City of Loudon.
Persons interested in pursuing this permit should contact the TABC at 865-594-6342 or click on the link http://www.tennessee.gov/abc/llicensing%20-%20liquor%20by%20the%20drink.shtml. To view more information, see Chapter 8 of the Loudon Municipal Code.
Chapter 8 Municipal Code: Alcoholic Beverages>>
LIQUOR STORES
Liquor stores were approved by county referendum at the November 4, 2008 election. City Council approved the location of two stores citywide. Applications were taken from March 2 through March 5, 2009. See the ordinance for more information.
Liquor Store Ordinance>>
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