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Collierville adopts $1.62 property tax rate after second reading
Summary
The Board of Mayor and Aldermen approved Ordinance 2025-05 on second reading to set the towns fiscal year 2025-26 municipal property tax rate at $1.62 per $100 of assessed value; the change follows a reappraisal-year certified rate and drew a public comment questioning the timing and need for the increase.
The Collierville Board of Mayor and Aldermen voted to adopt Ordinance 2025-05 on second reading Tuesday, setting the towns municipal property tax rate for fiscal year 2025-26 at $1.62 per $100 of assessed value.
Finance Director Felicia Wells told the board that state statute requires a certified, revenue-neutral tax rate in a reappraisal year and that Colliervilles certified rate is $1.50 per $100 (including 2 cents for anticipated appeals). Wells said budget discussions identified an additional 12 cents was needed to…
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