County Commission Committee Approves Extra Money For Schools ...

Posted on: 2:57 pm, May 29, 2013, by George Brown and Adam Hammond, updated on: 04:30pm, May 29, 2013

(Memphis) Members of the budget and finance committee for the Shelby County Commission have approved an extra $20 million for the merged school district.

The committee also approved adding six-cents to the property tax.

That is on top of the 30-cent property tax increase to make up for the decline in property values.

This was the first of three readings.

If the tax hikes are approved, the property tax would be $4.38.

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(Memphis) You are one step closer to paying higher property taxes, and it?s all for the sake of unified schools.

Members of the budget and finance committee for the Shelby County Commission have approved an extra $20 million for the merged school district.

The only problem is they had to come up with that $20 million, and they did it by voting to raise your tax rate.

Under Mayor Luttrell?s new plan the tax rate in most of Shelby County is 4.38.

That?s up from the current rate 4.02.

?We would not recommend keeping the tax rate at 4.02 because that would not allow us to have enough money to carry out the responsibility for schools,? said Mayor Luttrell?s administration.

Last week, Luttrell raised the rate to get the same amount of money as last year, since property values are down, causing the county to get less money.

Most of your property values went down around 10%.

Wednesday they asked for 6 cents to be added to that to collect a total of $20 Million for the unified school district and they got it.

?The budget resolution needs more money for the schools so I think we need to keep them inline as we move down the road,? said Commissioner Mike Ritz.

Not everyone was so agreeable on the first reading.

Commissioner Wyatt Bunker says this move will drive business out of the county.

?Do you think anyone said ?hey I?d much rather go set up my business in Shelby County instead of Desoto County because I get a higher cost of doing business??

Commissioner Terry Roland has an even bleaker outlook, ?In five years when we?re Detroit they?re going to care. Because everyone who can leave will leave.?

This is the first reading and it takes three to raise the property tax rate.

The commission will meet again Monday where they will take the issue up once again.

Source: http://wreg.com/2013/05/29/county-commission-committee-approves-extra-money-for-schools-tax-hike/

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