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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 fund town operations, which would set the proposed rate at $1.62.
The tax-rate adoption followed a public hearing and a brief citizen comment. Resident Charles Tollard questioned the necessity and outreach for the increase, saying he had discovered notice only by accident and asking why the town would raise the rate when new development is expected to bring property tax revenue in the coming months. "It doesn't seem like there's a lot of, I mean, to me I don't think there's enough justification for it," Tollard said.
The board moved and seconded the ordinance after the public comment period. In a roll-call vote called by the clerk, Alderman Hall, Alderman Jordan, Alderman Marshall, Alderman Robbins and Mayor Frasier voted yes; the ordinance was approved.
Wells told the board the adopted rate, together with other revenue sources, is expected to support the operations presented in the towns fiscal year 2026 budget, which the board held a public hearing on later in the meeting.
The ordinance was presented as a second reading and public hearing before the vote; the board did not amend the ordinance during Tuesdays meeting and no alternative rate was offered on the floor.
Ordinance 2025-05 will appear in the towns official records as the municipal tax rate set for FY 2025-26. Further budget adoption steps and any implementing motions were addressed separately during the subsequent budget discussion and public hearing.
Votes at the meeting also approved consent items and minutes by roll call prior to the ordinance vote; those routine approvals were not debated.
