News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
The Algood City Council discussed a possible 10 percent property tax rate decrease for the 2019-2020 budget during a work session Monday.
City Manager Keith Morrison said the decrease would take the rate to .4407 per hundred.
“There has been some talk of cutting the per one hundred tax rate,” Morrison said. “We are currently at .4887 per 100 property taxes. There has been a request to cut that down a little bit.”
Morrison said the current budget allows approximately 3.1 million dollars for the 2019 fiscal year.
“If you cut about ten percent off of $400,000 that we take in for real and personal property taxes,” Morrison said. “We can expect about $40,000 to come off of it.”
Morrison said he will adjust the budget to reflect the property tax decrease before bringing it back to the Algood City Council. Further discussions will take place before the budget is approved.
