The Greeneville City Council voted to exceed the certified property tax rate by $.21 on first reading yesterday, making the new tax rate for Greeneville property owners $1.7071 per $100 of taxable property.
Council member Tim Teague made the motion to approve and there was a second from council member Scott Bullington. A public hearing was held on the matter prior to the vote but no one signed up to speak, so the council voted and the decision was unanimous. The tax rate was previously approved for an increase of $.28 but since the state certified rate was established, a new tax rate was set.
The new property tax rate will balance the 2024 Fiscal Year Budget and City Manager Todd Smith says the budget wont change much with this new rate but does now include the recently approved Traffic Study for a section of the 11-E Bypass. It includes about $2.4 in capital projects, repairs, maintenance projects, a possible middle school site on Jeff Woods Memorial Drive, payment for school system HVAC and energy efficiency projects, and an update to the towns pay scale with around $1.2 M in salary increases for town employees.
Smith also stated the increase will help the town keep the level of service that is expected. The 2024 Fiscal Year Budget will have final approval at an upcoming meeting.
