Germantown Residents Prepare For Taxes to Go Up

Germantown Residents Prepare For Taxes to Go Up

Germantown's budget won't be final until next week, but city leaders say property taxes are going up.
GERMANTOWN, TN (localmemphis.com) - Prepare to pay. People living in Germantown are facing a big property tax hike. Their taxes are going up almost 50 cents.

Germantown's budget won't be final until next week, but city leaders say property taxes are going up.

"I don't particularly like it, but I knew it was coming," says Ken Miller. 44.5 cents is a big deal to most we talked with, but they've resigned themselves to paying more.

"I sure don't want to pay anymore," says Frank Wright. "I knew it was going up."

The city's new tax rate will be $1.93 cents. That means taxes on a $200,000 home will be almost $900 more.

"That's not good," says Miller. "Then you add on top of that the increase on Shelby County."

"It is a large tax increase," says city administrator Patrick Lawton. Lawton says the hike is needed for several reasons.

"Our sales tax numbers are down," he tells Local 24 News. "Our population is down."

He says this increase should last at least five years.

"9.5 cents gets us back to square one if you will, because property values dropped across Shelby County. The other 35 cents take us again through that five year planning period."

Lawton says residents should not have another tax increase before 2018. He adds the coming school changes should help the city.

"We sincerely believe with the establishment of municipal schools in Germantown that is going to be the economic development driver and boost that will increase property values."

"It's still a good place to live," Miller says. "You've got to do the best you can."

The last big tax increase for Germantown residents was in 2003 when taxes went up 38 cents.

The budget will be finalized and approved next Monday.
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