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Court approves 2025 property tax rate set at $0.09 per $100 assessed value
Summary
Treasurer reported DLG calculations and the court voted 3–1 to set the 2025 property tax rate to yield a 4% revenue increase (0.09 per $100), down from 2024's 0.094 rate.
The Knox County Court voted Aug. 12 to set the 2025 property tax rate at $0.09 per $100 of assessed value, a move the court said would increase revenue by 4 percent over the compensating rate. Treasurer Mary Hopkins reported that the Department for Local Government (DLG) calculated the county’s compensating rate at $0.087 per $100.
Magistrates voted 3–1 to adopt the higher rate: Faulkner, Dan Gutenson and King in favor; Magistrate Stanley opposed. The court noted the county’s 2024 rate was 0.094 per $100, so adopting 0.09 will still result in a lower dollar rate than last year.
The motion to set the rate to achieve a 4 percent revenue increase (0.09 per $100) was made by Magistrate Dan Gutenson and seconded by Magistrate Faulkner. Judge Adams called for a roll-call vote. No further details about specific revenue estimates or how the additional revenue will be allocated were provided at the meeting.
No formal direction to staff about budget reallocations was recorded during the session.
