Mayor Wharton reveals city budget - Action News 5 - Memphis, Tennessee

Mayor Wharton reveals city budget

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MEMPHIS, TN -

(WMC-TV) - Memphis Mayor A C Wharton revealed his budget Tuesday afternoon. He did not say it, but the city's chief administrative officer confirmed the "need" for a property tax increase.

The mayor's unprecedented budget speech ended abruptly.

It is the first time in almost a decade that Action News 5's Kontji Anthony has seen a mayor leave a budget presentation without answering the city council's questions.

Memphis Mayor AC Wharton told the council that property values dropped significantly and the state requires a property tax increase to balance the loss.

The mayor never said how much of an increase he is calling to propose during his speech, but CAO George Little later confirmed the mayor says the city needs to increase the tax rate from $3.11 for every $100 of the assessed value of your home to $3.39.

That would be a 28 cent increase.

"The current property tax will not yield enough revenue to fund this budget," said Wharton.

The mayor said he would be available to meet with council members individually and then left and without mentioning the property tax rate increase.

Here is some perspective on the Mayor's proposed 11.5 percent tax increase:

Right now, taxes on a $100,000 house are $777.50.

If the council approves the mayor's proposal, property taxes for that $100,000 home would jump to $866.90.

The budget deadline is June 30.

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