Proposed Property Tax Increase Stirs Controversy in Lexington, Tennessee

Lexington is facing a major concern from community members about a proposed property tax increase. The proposed tax increase would raise the property tax rate from 1.04 to 1.78, a staggering 70% increase. Residents are expressing their concerns and opinions on the matter, with many feeling that the city has not done enough to cut spending and is instead relying on taxpayers to fund its expenses.

The proposed tax increase would affect all property owners in the city, with homeowners seeing an average increase of around $150 per year. Businesses would also be impacted, with commercial property owners seeing an average increase of around $300 per year.

Mayor Jeff Griggs has released a statement acknowledging the community’s expectations of local government and committing to meeting those expectations. However, Andrew Amburn, another resident of Henderson County, disagrees with the notion that the problem is a taxation issue. The proposal still needs to be voted on again at the next board meeting on June 24, giving residents another opportunity to voice their opinions and advocate for change. Our team at Ryan is closely monitoring the status of this bill and is available to answer any questions.