Budget Hearings Begin at City Hall
(Memphis) The Memphis City Council will begin holding budget hearings on Tuesday for Fiscal Year 2014.
Over the next month, City Council members will hear from the leaders of several city divisions to see how they want to spend money over the next year.
On Tuesday, council members will hear from the Finance Division, the Debt Fund, the Fire Department, Engineering, Public Works, the Sewer & Storm Fund and Solid Waste.
Mayor A C Wharton’s $623 million budget proposal that he introduced last week includes a 28 cent property tax increase, which would raise the rate to $3.39 per $100 of assessed value. The assessed value is 25% of the appraised value.
If last year is any indication, taxes won’t be going up at all. Last year, the City Council rejected Mayor Wharton’s request for a 47 cent tax increase.
City leaders have until the start of the fiscal year on July 1st to approve a budget.