Several taxpayers in Jonesborough will expect property tax increases following the first budget reading.
Taxpayers Will See 21% Property Tax Rate Increase Following Budget Reading in Jonesborough
Jonesborough taxpayers will see a 21% property tax rate increase following the budget reading for the current fiscal year, meaning that a resident who owned a $200,000 property would expect to pay an additional $125 for property tax.
Several taxpayers in the area will have to say goodbye to the current $600 property tax per year and expect an increase in property tax rate if the plan to raise the rate takes effect this fiscal year, which will begin on July 1.
According to WJHL reports, the budget reading also included the topic of the general fund in the town, including other budgets to fund sewer and other engineering projects in several areas, resulting in an estimated total budget of $12.5 million.
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Plan to Increase Property Tax Rate Receives Mixed Reactions from Several Taxpayers in Jonesborough
Following the plan to increase the current property tax rate of 21% in Jonesborough, several taxpayers disagreed with the plan despite other individuals supporting the proposal.
Several taxpayers claimed that the property tax increases might look little to some, but for those who budget their low incomes tightly and spend their money on more important expenses, the 21% increase was too much.
READ ALSO: Denver Judge Denied An Effort To Block A Property Tax Plan
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