Wednesday, May 28, 2014

How tax bump will affect residents

So, last night the Knoxville City Council signed off on Mayor Madeline Rogero's budget, and the first tax increase - 34 cents - in a decade (you'll note that it was one penny less than the one Gov. Bill Haslam put in place when he was mayor).

Knoxville's property tax rate previously stood at $2.3857 per $100 of assessed value. The next tax bill city residents see will have a property tax rate of $2.72 per $100 of assessed value. This means a city resident with a $100,000 home will see an increase of about $84 per year.

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