Memphis city council members not in agreeance on property tax increase

MEMPHIS, Tenn. (WMC) - A property tax increase for the city of Memphis remains on the table as city council members debate its effectiveness on Tuesday.

The resolution was proposed by Council Member Martavius Jones. It includes a $0.29 increase per $100 in assessed value.

The current property tax rate is $2.71. If passed, the measure would bring the rate to $3. It is a similar measure Jones proposed in 2021.

The increase depends on how much your home is worth.

We did the math for you as an increase to your bill is possible.

• If you own a $100,000 house, you’d pay $72 more in city property taxes.
• If you own a $200,000 house, you’d pay $145 more
• If you own a $300,000 house, you’d pay $216 more in city property taxes.

This time, Jones is proposing the increase to generate $11M to support MATA operations. However, some council members aren’t confident the public will see any change within the public transit system.

“Whatever we do, let’s make sure that the citizens see the results,” said Council Member Cheyenne Johnson.

Jones said there has not been a property tax increase since 2020. He proposed the council approve the increase even if the funds do not go to MATA. Other council members did not agree.

“Colleagues, there’s not a business on this planet that just raises their prices without a specific plan on where to spend that money,” explained Council Member Frank Colvett. “Colleagues, I insist that if you are going to go down this road, you must explain where you plan to send this money.”

Council members requested a representative from MATA be at the next and final reading of the resolution on June 27 to hear where the funds with go. The council will also vote on the resolution on this date.

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