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Shelby County homeowners could save big through property tax cut

Mayor Lee Harris announced the idea Wednesday to Shelby County commissioners, a key component to his proposed budget.

MEMPHIS, Tenn. — Memphis area homeowners welcomed the news Wednesday, hours after Mayor Lee Harris announced a proposed five cent county property tax decrease.

"I think everyone in Shelby County is going to be happy that we are going to have property tax relief, for veterans, for seniors, they are going to be happy in Shelby County to see the tax rate change to their benefit."

That included 64-year-old James Shannon, a grandfather on a fixed income, relying on disability to make ends meet.

Inflation isn't helping.

"It's been a whole lot of stress, you've have to pick bargains now more, cut back on things in the house that you used to do," Shannon said. "You have to take it more serious now because every time you go into the grocery store the price started going up."

"Anytime you can get a break on anything is a plus," Mark Schuler added.

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He would also benefit beyond his own home, since he also owns multiple rental properties.

"If you can get relief anywhere, you know, five percent is huge on a home," Schuler said.

As for Shannon, as much as he'd benefit from property tax relief, he also thought about his own children and grandchildren.

"A decrease would help in homes, not just mainly retired folks but working families because I know it's tough with young working people with kids and stuff like that," Shannon said.

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Mayor Harris said his office is still crunching the numbers on the exact tax savings depending on the value of the home.

Shelby County commissioners will voted on the spending plan - including the property tax rate - next month, following public hearings.

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