RUTHERFORD COUNTY, TN - Reports indicate about 10% of the single family homes in Rutherford County are now owned by out of state corporations. That was Rutherford County Mayor Joe Carr.
The mayor said at some point, he believes there was a conscious decision to charge these corporations the residential tax rate, as opposed to a commercial tax rate - which is what a commercial apartment complex would be charged on their income producing property. A REIT, or a Real Estate Investment Trust .