Tuesday, May 18, 2010

Chattanooga Mayor asks for 64 Cent Property Tax Hike

A 33% Tax Hike.

Mayor Ron Littlefield’s proposed tax increase would raise property taxes by 64-cents, funding a $198.6 million budget, records show.

The mayor is asking for expanding the Chattanooga Police Department, hiring additional firefighters for the new fire hall at Enterprise South, an expanded contract with Tri-Community Volunteer Fire Department to handle recently annexed areas and restoration of hours at recreation center hours, records show.

The last property tax increase was Sept. 11, 2001 when the council approved about a 50-cent tax hike. The average property tax rate for a $131,000 home would go up from $635 a year to $844 a year, if the tax rate is proposed, records show.

The current tax rate is $1.939 per $100 of assessed value and the proposed rate would go to $2.578 per $100 of assessed value, or a 33 percent tax increase, city records show.