CHATTANOOGA, Tenn — Chattanooga Mayor Tim Kelly’s office has unveiled a proposed property tax rate that it says represents a ‘historic’ reduction.
The city’s proposal is $1.93 per $100 of assessed property value, marking a significant reduction from the current rate of $2.25.
The proposal, which comes after weeks of budget discussions with the City Council, is set for a public hearing next Tuesday, August 19th.
A release from the city says the new rate is expected to generate $44.8 million, which will be allocated to protect community centers, invest in affordable housing, and secure competitive wages for police and firefighters. This comes in the wake of recent historic rainfall and flooding in the city…