The LaFollette city council convened for a rare Saturday meeting today to decide on whether or not to go through with a property tax increase on the citizens of the city.
The state of Tennessee proposed that the municipality adopt a tax rate of 1.131 per 100 dollars assessed, which would have brought in the same amount of money as the prior budget year. But in order to meet the 2019-2020 proposed budget which has increased spending needs, the LaFollette Council decided to bring in new money by setting the rate at 1.2950 per 100 dollars assessed. The city council says that the new rate will allow the budgetary needs to be met.
This rate represents a tax increase for everyone who lives in the LaFollette city limits. The increase works out to just over $20 additional dollars per $50,000 dollars of property value.
The proposed rate change passed 3-1 with yes votes from Lonnie Wilson, Bill Archer and Mark Hoskins. The lone no vote on the council belonged to Ann Thompson, who was against the tax increase.