Proud to be a responsible corporate citizen in our communities
As a not-for-profit electric cooperative, Middle Tennessee Electric (MTE) is exempt from certain types of taxes, but it is still one of the largest taxpayers to local governments through the ad valorem tax.
The Latin phrase ad valorem means “according to value.” MTE’s infrastructure, including buildings, substations, transformers, poles and lines, must be assessed annually to determine the amount to be paid. Local governments then use the revenue generated from the ad valorem tax for operations and programs to help meet the needs of the community’s residents.
This year, MTE will pay more than $5.9 million in ad valorem taxes to local governments in its service area. The individual payments range from several thousand to millions of dollars, depending on the total amount of assessed property located in a particular county and to the cities within those counties.
“This is yet another way Middle Tennessee Electric fulfills its commitment to those we serve,” said Chris Jones, MTE President/CEO. “One of our founding principles is Commitment to Community; this commitment has been a cornerstone for Middle Tennessee Electric for more than 80 years. As a not-for-profit cooperative business focused on member satisfaction, MTE is proud to be a responsible corporate citizen in our communities.”
“This is a process we go through annually, and it is tightly defined by state law,” Jones said. “As our electric system grows, our value and tax bills increase, directly benefiting everyone in the MTE service area. We are proud to be able to contribute in this way to the communities we serve here.”
About Middle Tennessee Electric (MTE)
Founded in 1936, MTE is the largest electric cooperative in the Tennessee Valley Authority (TVA) region and the second largest in the United States, serving more than 600,000 Tennesseans via 315,000 accounts covering nearly 2,200 square miles in 11 Middle Tennessee counties, primarily Rutherford, Cannon, Williamson, and Wilson. Municipalities served include Murfreesboro, Franklin, Brentwood, Smyrna, Lavergne, Lebanon, and Mt. Juliet. MTE employs 510 people in 7 local offices and its Murfreesboro corporate headquarters.
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