April 24, 2014 - Mayor Madeline Rogero today presented a proposed budget for 2014-15 that will put the City of Knoxville in position to meet increased obligations for the foreseeable future while continuing to invest in neighborhoods, infrastructure and a revitalized urban core.
To meet the growing liability of legacy pension plans, the mayor proposed a 34-cent increase in the City's property tax rate, which would raise it to $2.7257. Adjusted for inflation and equalization, this will still leave it far below the effective rate of 10 years ago, when former Mayor Bill Haslam enacted the last City tax increase.
"Leaders know that there is a time to listen, a time to decide, and a time to act. I have listened throughout my time as mayor, and especially as we prepared this budget," Mayor Rogero said in her annual budget address, held this year at Christenberry Ballfields in the Oakwood neighborhood of North Knoxville. "I have presented you with a plan that is practical, strategic, and that takes inspiration from our hopes and our vision."