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Corinth council approves publishing proposed tax rate of $0.56089 per $100, sets hearing for Sept. 18
Summary
Council approved a resolution to publish a proposed FY 2025–26 tax rate of 0.56089 per $100 of valuation — the published (maximum) rate the city may consider — and set a public hearing for Sept. 18 at 6:30 p.m. at Corinth City Hall. The action was unanimous; council did not adopt the final rate tonight.
The Corinth City Council voted unanimously to approve a resolution publishing a proposed fiscal year 2025–26 property tax rate of 0.56089 per $100 of valuation and to set a public hearing on the proposed rate for Sept. 18 at 6:30 p.m. at Corinth City Hall, 3300 Corinth Parkway.
Leigh Ann Bunzelmeyer, Corinth’s finance director, told the council that under state law the city must publish a maximum (the "published" tax rate) that the council may consider when it adopts a rate at a later meeting. "This is a published rate. It is not actually adopting the tax rate," Bunzelmeyer said. She said the published rate in the resolution reflects the city manager’s recommendation.
During the motion the mayor read the resolution language placing the proposal on the Sept. 18 council agenda and noting the published rate (0.56089) is lower than the no-new-revenue rate (0.63101), the de minimis rate (0.62347) and the voter-approval rate (0.62629). A councilmember moved to approve the resolution and set the hearing; the motion passed unanimously.
