Collierville aldermen approve $1.62 municipal tax rate for fiscal 2025-26

Collierville's Board of Mayor and Aldermen approved Ordinance 2025-O5 on a roll-call vote to set the town's municipal property tax rate for fiscal year 2025-26 at $1.62 per $100 of assessed value.

The measure passed by a recorded vote of five in favor, with Hall, Jordan, Marshall, Robbins and Mayor Frasier voting yes. The ordinance was considered on second reading and followed a required public hearing.

Town finance staff said state law requires a certified, revenue-neutral tax rate in a reappraisal year; for Collierville that certified rate was $1.50, which included 2 cents to cover anticipated tax appeals. Staff said the town determined an additional 12 cents was needed to fund the operations included in the proposed fiscal 2025-26 budget, producing the $1.62 rate the board approved.

During the public hearing, resident Charles Tollett questioned the notice and the need for the increase given anticipated new development. "I read on our first off, it seems like the notification of this increase didn't get out very much because I only ran across it by accident," Tollett said. He also asked why the town would increase the rate when new development is expected to bring additional taxable value over the next six to eight months.

After public comment and brief staff remarks, a motion to approve the ordinance was made and seconded; the clerk called the roll and the ordinance was adopted. No amendments to the ordinance were recorded during the meeting.

The ordinance sets the tax rate for the town portion of property tax bills; other taxing entities (county, school district, etc.) set separate rates. Town staff noted the rate decision supports the spending plan included in the budget presented later in the meeting.