If you own property in the City of Crossville you have an opportunity to let your voice be heard today on a proposed tax increase. The third and final reading of the proposed 16 cent property tax increase is on the agenda for tonight’s meeting. The Council will hear from the public at 5:30 in the Council Chambers at City Hall.

The last time City Property tax was raised was six years ag0.  Currently, the rate is $0.5905 per $100 assessed value. The proposed increase would add approximately $60 a year to City residential property owners tax bill on a house valued at $150,000.  Commercial property is taxed higher at 40% versus 25% for residential. For commercial property valued at $250,000, the annual increase would be approximately $160.00

WHY THE RAISE

According to the City, part of the increase is needed for increased operating costs over the years.  But one big factor for the increase is to help eventually fund a proposed indoor recreational facility.  The City purchased 24 acres off Webb Avenue recently for $594,000 with the possibility part (about 18 usable acres) of that land could be the site for the rec center location. It is estimated the tax increase will generate approximately $600,000 per year additional revenue for the City.

The public hearing is scheduled for 5:30 and will continue for 15 minutes at which time the Beer Board will meet.

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