MEMPHIS, Tenn. — You can now make the case that taxes in Nashville are higher than in Memphis.
For years we've been hearing how taxpayers in Memphis pay more in property taxes than any other city in Tennessee.
But despite all its growth, Nashville's budget is a mess. Deficits are so big the state was threatening to take over.
So Tuesday night, the metro council passed a 34% property tax increase. That means on a house worth $250,000 a year, a homeowner will pay an extra $666 a year in taxes.
Nashville's property tax rate jumped to more than $4 per $100 of assessed valuation. Memphis' is a little more than $3.
Yes, Memphis homeowners must pay a Shelby County property tax as well, whereas Nashville and Davidson County are consolidated. But Nashville taxpayers will be paying more because the median house in that city is worth $329,000. The median price for a home in Memphis is $177,000.
So yes we have our challenges, but one of them is not having to explain why Memphis homeowners pay more than any other city in the state.
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