Farragut is one of the most business-friendly cities in Tennessee and Knoxville isn’t.
So says the Nashville think tank, Tennessee Center for Policy Research, in a report released on Monday.
The report, “How Business-Friendly Are Tennessee’s Cities?”, ranks the 50 most-populous cities in the state based on factors such as job and population growth, median per capita income, city property tax rates, tax on gross receipts of sales business taxes and “community allure.”
Farragut ranks No. 2 overall, trailing only No. 1 Mt. Juliet.
Knoxville is lumped with a bottom five that includes Memphis, Dyersburg, Tullahoma and Oak Ridge.
Farragut scored highest in the tax and community allure categories.
“Due to its low individual tax burden, its quality education system, and its relative safety,Farragut took the top spot in the Community Allure category.” the report says.
Farragut also captured the report’s top ranking in the “total business tax burden” category with a perfect score of 100.
In contrast, Knoxville’s overall score was hammered by its No. 48 ranking in the tax burden category.
“As a result of their high taxes on businesses, Knoxville, Oak Ridge, Tullahoma, and Maryville join Memphis in the bottom five in the Business Tax Burden category.” the report says.
TCPR describes itself as “an independent, nonprofit and nonpartisan research organization dedicated to providing concerned citizens, the media and public leaders with expert empirical research and timely free market policy solutions to public policy issues in Tennessee.”
Farragut’s high-ranking might surprise some area contractors and developers who have battled the city over zoning issues. But you can’t argue low taxes.
Read the full TCPR report here.
Here’s a SourceWatch report on TCPR.
Sunshine Review report on TCPR.