News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
Cookeville City Council voted Thursday night to increase property taxes by 15 cents to help work on the city’s road issues.
Coming into Thursday, the council had planned to increase taxes by 10 cents. However, Council Member Eric Walker asked council members to consider a 15-cent increase to funnel more money to smaller transportation issues. Walker said he feared that large road projects and bonds issued to pay for them might eat up the 10-cent increase quickly.
“We really need to move forward and try to provide some additional income,” Walker said. “It’s important we raise money to work on this.”
Walker’s amendment included a requirement than five cents of the 15-cent would be used on “pay-as-you-go” projects.
Mayor Ricky Shelton voted against the extra five cent increase suggested by Walker. Shelton said he feared rising water and electric rates combined with the property tax increase might impact citizens too much at once.
“However, the need is there,” Shelton said.
The increase will create some $1,296,000 in funding for transportation projects across the city. Some 40 road projects have been identified across the city with nine additional combined city-state projects. Shelton said the projects carry a price tag of over $70 million.
Council member Charles Womack said the city needs to focus on its internal arteries, those that community members use most.
“I think we have a road problem in Cookeville,” Womack said. “It’s getting harder to get around.”
The city’s new budget considered Thursday includes a first use of the transportation fund money. The budget would fund some $600,000 to improve 10th Street.
Cookeville last increased its property tax rate in 2012 from 85 to 90 cents.
The tax increase would raise property taxes on a residential property valued at $120,000 by $45. A commercial property valued at $500,000 would see property taxes increase by $300.
The council will conduct a second reading of the budget ordinance on June 20.
