Germantown Considers Property Tax Hike

Germantown Considers Property Tax Hike

If you own a home in the Mid-South, it's that time of year again. Re-appraisals are in the mail, if not already in your mailbox. In one Shelby County suburb, there could be sticker shock.
GERMANTOWN, TN (abc24.com) - If you own a home in the Mid-South, it's that time of year again. Re-appraisals are in the mail, if not already in your mailbox. In one Shelby County suburb, there could be sticker shock.

City leaders in Germantown are contemplating raising property taxes by 44 and a half cents. For a $300,000 home, that is an increase of about $330.

They say the tax increase is needed to make up for a drop in property tax value. State and local sales taxes are also down, compounding the problem.

According to Germantown City Administrator Patrick Lawton, "It was a very difficult decision, but at the end of the day, based on how we were able to control costs, we minimized what that tax increase was going to be, and the fact we are going to be able to make that last another five years is substantial."

Lawton says the property tax increase will help with next year's budget, as well as a five-year planning period.

Germantown's mayor and board of aldermen will consider the tax rate increase on May 13th at Germantown City Hall.

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