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      • Memphis Mayor Paul Young announced that he would be seeking a property tax increase to account for a $30 million shortfall in the city budget. Young on Tuesday said that due to a decrease in federal funds and an increase in pension payments, a tax hike was necessary in order to "get the results people are asking for."
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  2. May 2, 2024 · When you add a potentially higher tax bill following reappraisal, the $25 increase in the wheel tax by county government, a 12% in the MLGW rate approved by City Council, and 19.8% inflation in the past five years, it’s easy to understand the default opposition to a City of Memphis tax increase.

  3. Apr 16, 2024 · Memphis Mayor Paul Young announced that he would be seeking a property tax increase to account for a $30 million shortfall in the city budget. Young on Tuesday said that due to a decrease in...

  4. Memphis Mayor Paul Young proposed a 75-cent increase in the city's property tax rate based on home value during ... The current property tax rate for Memphis residents is $2.70. ... an ask first ...

  5. Apr 16, 2024 · However, he did not say how much of an increase in property tax he's requesting. Mayor Young said soon-to-expire federal funding and an increase in the cost of pensions will cause a...

    • Daniel Wilkerson
  6. May 3, 2024 · The City of Memphis hasn’t had a tax increase since 2012. It may have seemed great for taxpayers at the time, especially since other factors like inflation are now a bigger part of the...

  7. Apr 24, 2024 · Here's how much more you would pay on taxes if Young gets the 75-cent increase: $188 more for homes that are $100,000, which will be $15.66 a month. $375 for a $200,000 house, resulting in...

  8. May 2, 2024 · Memphis City Council Chairman J.B. Smiley told FOX13 Thursday that the city would have to consider either cutting services and programs or increasing tax revenue. This is why the councilman...

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