Paris and Union City, Tenn.—Henry and Obion Counties and all of their municipalities will benefit from the increase in taxes on gasoline and diesel included in Tennessee’s IMPROVE Act.
The Tennessee Society of Professional Engineers has issued information on what the IMPROVE act will mean to each of the state’s 95 counties. The IMPROVE Act is a mix of tax cuts on groceries, franchise and excise tax on business and industries, while increasing car registration, fees on electric vehicles, and fees on alternative fuels.
Henry County will gain $420,090 in new local revenue in 2017, while Obion County will gain $414,864. Over the next 10 years, Henry County will gain $6.5 M, while Obion County will gain $10 M in new revenue.
The ten municipalities in Obion County will increase local revenue by $11,943 in 2017, while the five municipalities in Henry County will see a gain of $97,758 in 2017.
Union County will gain $63,820 and Paris will gain $59,491 in 2017 from the IMPROVE Act.
The IMPROVE Act will deliver 962 needed road and bridge projects across all 95 counties.
In Henry County, there will be 11 individual bridge repair and replace projects funded that will total $29,567,300.
In Obion County, a total of 19 projects totaling $273,487,188 will be funded.