Collierville board approves $133.9M budget focusing on safety and infrastructure

During the recent Board of Mayor and Aldermen meeting in Collierville, significant discussions centered around the approval of the fiscal year 2026 operating budget and the establishment of the municipal tax rate for 2025. The meeting highlighted the town's commitment to addressing essential needs while managing financial constraints.

Town Administrator Molly Maynor presented the proposed budget, emphasizing a focus on safety, infrastructure, and technology improvements. The budget reflects a careful balance between necessary expenditures and the impact of inflation, with total revenues projected at approximately $93.6 million and expenditures at about $85.6 million. Notably, the budget includes a capital investment program totaling over $14 million, which encompasses various projects such as network infrastructure upgrades and a new library project.

The board approved the budget unanimously, acknowledging the hard work of the finance team and department directors who contributed to its development. The approval signifies a strategic approach to maintaining essential services while planning for future growth and infrastructure needs.

Additionally, the board discussed the municipal tax rate for 2025, which is set at $1.62 per $100 of assessed value. This rate includes a necessary adjustment due to a property reappraisal, ensuring that the town remains revenue neutral while accommodating new growth. The finance director clarified that the tax rate adjustment is a standard procedure during reappraisal years, aimed at preventing revenue increases beyond prior levels.

In conclusion, the meeting underscored Collierville's proactive stance in managing its budget and tax rates amidst economic challenges. The board's decisions reflect a commitment to maintaining community standards and preparing for future developments, with further discussions anticipated regarding pedestrian pathways and infrastructure projects in the coming months.