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Knoxville proposes balanced FY2026 budget with $25M convention-center paydown; no tax increase
Summary
Mayor and finance officials presented a $606.7 million all‑funds proposed budget they called “responsible, balanced,” and said it does not require a tax increase. The plan includes a $25 million lump sum payment on convention‑center debt, modest staff increases and targeted investments in housing, deferred maintenance and roadway safety.
Mayor Indya Kincannon and Chief Financial Officer Boyce Evans presented Knoxville's proposed fiscal year 2026 budget at a city council legislative hearing, describing a plan that does not include a property tax increase and that prioritizes debt reduction, reserves and targeted investments.
Evans said the total proposed budget across all funds is $606,700,000, with a net (operating) budget of $477,300,000 and a general fund of $323,000,000. He described the year ahead as "a tighter FY. Revenues are flatter than what we've seen in the past," and said the budget does not use any unassigned general fund balance.
The proposal includes a $25,000,000 lump‑sum payment to reduce the convention center's…
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