Red Bank’s property tax increase passes first motion, increase less than originally called for
RED BANK, Tennessee (WDEF)- After a Hamilton county-wide reappraisal Red Bank’s latest appraisal tax rate was made 0.9923, compared to 1.39 previously.
At the commissioner’s meeting interim city manager John Alexander says Red Bank is a property taxes city and a tax increase is needed to prevent deficit spending.
“According to our financial director and interim city manager, the property taxes will be in the deficit spending,” said Phillips
Alexander suggested a 1.20 tax per $100, which is a nearly .21 cent property tax increase from the new set price.
Commissioner Pete Phillips made a motion to move it to a $1.10 tax proposal and the first motion was passed.
“I thought the 10% would be a good holdover point instead of the 40% and 20% that was talked about until we find out what we’re going to do with our money,” said Phillips.
Many Red Bank residents spoke against a tax increase while others said a small increase can occur.
“It’s always easy to propose a short-term solution. You have to look at things from a long-term perspective. It’s not exactly that I’m for it (taxes increasing) but that it’s a necessary problem really,”
Red Bank resident Jamie Nelson said a tax increase is needed to help make Red Bank the best it can be.
“I live here for a reason. I pay taxes for a reason. I know that my taxes are based on my home value. I like living in Red Bank. We have our own police department, we have our own fire department,” said Nelson.