MEMPHIS, Tenn. — The Shelby County Assessor is delivering a stark warning, saying the county tax base is deteriorating and homeowners could end up paying the price.
Javier Bailey is pointing to the many large, buildings in downtown Memphis that are now sitting vacant, not providing the property tax dollars needed to help fund needed projects in the county. Vacancy in the central business district is up to about 17%.
“We’ve got to act now, for real,” Bailey said. “In monitoring the data and looking at the various economic indicators I became alarmed.”…