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Knox County trustee reports strong investment returns, outlines tax-sale plans and tax‑freeze process
Summary
Knox County Trustee Justin Biggs reported $3.86 million in first‑quarter interest income (excluding ARPA), a Raymond James portfolio at $50.4 million, and announced the Tax Sale moved to June 2 and a April 5 tax‑freeze application deadline; he offered district‑level freeze counts on request.
Justin Biggs, Knox County trustee, told the Finance Committee that the county’s trustee accounts (excluding the ARPA account) earned $3,860,836.97 in interest in the first quarter of fiscal year 2026. He said the county has a favorable contract with FirstBank that took effect Feb. 1, 2026, with a rate of 3.52%.
Biggs also reported progress in the county’s investment portfolio at Raymond James, saying the account had grown to $50,400,000 with an average yield of 4.11% and that Raymond James had earned $766,481.90 in interest income for those investment accounts. "If you haven't met him, I would encourage you to just come and take a gander at one of our investment committee meetings," he said of advisor Steven Rosen.
On tax collections, Biggs told the committee that $216,758,877 in current 2025 taxes had been paid to date. He said delinquent collections have improved and that the county moved the 2025 Tax Sale to June 2 at the Grand Event Center. To help taxpayers meet the approaching deadline, the trustee’s office will open half days on two Saturdays at the downtown and Farragut branches.
Biggs reported more than 1,800 tax‑freeze applications were pending and said state rules generally require in‑person processing or a county visit for those who cannot travel. "If it's pending, that means you probably have mobility limitations," he said, and he set an April 5 cutoff for tax‑freeze paperwork to be processed locally before state submission. He offered to provide district‑level counts of tax‑freeze applications at the Finance Committee’s request.
Biggs repeatedly framed the measures as direct taxpayer assistance, recounting instances of elderly residents who said they could remain in their homes because of the tax‑freeze program. He also invited commissioners to review the investment committee’s work and asked any commissioner who wanted district‑specific freeze counts to request them.
The trustee’s update closed with procedural notes about reminder notices and holding‑bill mailings for delinquent accounts and an invitation to commissioners to request ARPA account interest figures separately.
