MEMPHIS, Tenn. — Is there ever a good time to raise taxes? Obviously most people would say no, and they would be correct. No one really wants to pay higher taxes, but sometimes it’s necessary. The question is, “Is now one of those times?” Memphis City Councilman Martavius Jones says yes, Memphis Mayor Jim Strickland says no, and several council members either are in the no column or they’re on the fence.
So as the city’s elected leaders inch closer to approving next year’s operating budget, the issue of a tax increase is completely up in the air. Jones is pushing for a 29-cent hike to fund more services for city residents and provide additional funds for mass transit. But Strickland contends this is the worst time to raise taxes – as the city continues to face the lingering effects of lost jobs and lower wages thanks to the COVID-19 pandemic. Plus, property reappraisals this year mean home values for many people are going up, and no doubt they were looking forward to a lower tax rate that would keep their payments basically the same.
The bottom line is, this promises to be a highly contentious debate when the council takes it up this week. There very well could be a modest property tax increase, but I will be shocked if it’s 29 cents --- or anything close to that. We’ll see. And that’s my point of view, I’m Otis Sanford, for Local 24 News.