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Proposed Tax Levy Ordinance to Reduce Knoxville Property Taxes
Knoxville's attorney has the green light to draw up this coming year's tax levy ordinance in a way to maximize the city council's request while still reducing property tax bills.

Alderman told Robert McCoy to ahead with the FICA special levy request, which maximizes the total tax levy request at around $329,000-dollars.

McCoy tells WGIL $4,000-dollars more is being requested through the levy than last year and property taxes still will decrease.

"It'd be a tax savings of about $5-dollars per $100,000 dollars of assessed value on a home," McCoy said. "So a homeowner with a $100,000-dollar home just has a $5-dollar decrease in their tax bill. Even though we're raising maybe $4,000-dollars more estimated, the values on the homes have gone up and the property."

The alternative for alderman Monday night was to build off of last year's appropriation ordinance and decrease property taxes by $10-dollars for every $100,000-dollars of assessed value.

However council members felt opting for the maximum request was the better choice. The ordinance will be voted on during the Knoxville City Council's next regularly scheduled meeting.
12 06 11 by Newsroom
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