Mayor proposes city budget with 75-cent tax hike
MEMPHIS, Tenn. — Mayor Paul Young proposed a 75-cent increase in city property taxes in his first budget presentation to the Memphis City Council on Tuesday.
The 75-cent property tax increase would equate to an increase of about $188 in taxes on a $100,000 home, Young said.
Mayor Young said he initially told his team “no new taxes,” but realized the current city budget situation requires it. He sees only two options: Cut services, or raise revenue.
“People want to see value added. They want to see this city different. That’s what I’m pushing for. I know that’s what you all want and that’s what this proposal gets you,” Young told council members.
Some highlights from the budget proposal:
$2.5 million for crime tech and cameras. The mayor wants to reduce violent crime by at least 10% every year for four years
Additional $8 million for grass cutting and litter removal
$7 million for afterschool youth programs and childcare
$3.2 million for the proposed Office of Neighborhood Safety
$150,000 for arts and culture
At least $15 million over four years to support Memphis-Shelby County Schools
3% salary increase for all city employees across the board.
Increase allocation to MATA to $35 million from $30 million.
Memphis mayor says he will seek tax increase
“In the times we are in right now, it’s important that we support the personnel of our public safety areas,” Young said.
With the recent Orange Mound mass shooting, public safety is top of mind.
With the Mayor’s hopes to decrease the crime rate every year and young people statistically have been a driving force behind crime, he said proposing new programs for the youth is vital.
“I want to be clear that this is a part of the public safety strategy,” Young said. “If we don’t engage these kids they will find something else to do, that’s just the facts of the matter.”
Memphis’ 2024 property tax rate is about $2.70 per $100 assessed value, according to the Shelby County Trustee’s office. The city’s current tax rate is below where it stood in 2020 and the years before that, when the property tax rate was above $3.
The proposed 75-cent increase would raise the current property tax to around $3.45 per $100 of value. The city of Memphis hasn’t seen a tax rate that high since 2007 when it was $3.43.
This is the first budget presentation for Young, who took office in January. The next fiscal year’s budget would go into effect in July.
City Council Chairman J.B. Smiley said council looked forward to engaging with the mayor during the upcoming budget season.
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