News Summary
Bristol, Tennessee, property owners are preparing for another substantial property tax increase as the City Council considers a proposed 29% rise in the property tax rate for the 2025 fiscal year. This follows a previous 13% increase last year, marking a second consecutive year of tax hikes. The upcoming meeting on June 19 will further discuss the implications for homeowners, who could see their annual property tax bills rise significantly. City officials emphasize the need for adequate funding to maintain essential services amid rising property values.
Bristol, Tennessee property owners are facing another significant property tax hike proposed for the 2025 fiscal year. The City Council is set to consider a 29% tax increase, which would raise the property tax rate from $1.54 per $100 of assessed value to $1.98. This follows a 13% increase implemented in the previous year, marking the second consecutive year of rising taxes.
The City Council plans to discuss the proposed tax increase during a meeting scheduled for June 19. Last week, council members passed the first reading of the proposal, setting the stage for further deliberation. With the potential for this hike, homeowners are bracing for an increase in their annual property tax bills, particularly as the Tennessee Comptroller’s Office has set a new “certified rate.” Even without the newly proposed increase, homeowners can expect to see their property taxes rise due to alterations in this certified rate.
For instance, a typical home valued at $250,000 currently incurs an annual tax bill of approximately $960 under the existing certified rate of $1.5397. Should the proposed rate of $1.98 be approved, this bill could jump to $1,237.50, a considerable increase for homeowners in the region.
City Manager Kelli Bourgeois highlighted that Bristol had maintained a low property tax rate for several years prior to these increases. She explained that as a result, the city has faced challenges in properly funding essential services and facilities. Comparatively, the city operates similarly to a business, needing adequate funding to deliver services efficiently.
The substantial proposed tax rate increase comes against the backdrop of a 46% average increase in property values within Bristol, with residential properties experiencing more pronounced growth compared to commercial ones. Bourgeois noted that for the city to continue improving and maintaining city services, it is crucial to collect sufficient revenue through property taxes.
City officials have previously recognized that prolonged low tax rates have negatively impacted the wages of city employees, leading to challenges in both recruitment and retention. In particular, police and fire department salaries have fallen behind market rates. After the last year’s tax hike, Bristol embarked on a plan to revamp salaries in these departments to attract and retain skilled workers, significantly decreasing vacancies in the fire department.
The city is also now working on implementing pay adjustments for public works employees. The aim is to retain qualified personnel who contribute to the improvement of conditions for infrastructure, such as sidewalks and streets. However, Bourgeois indicated that residents may not immediately notice the benefits of these changes and pay adjustments.
The city council had previously set the property tax rate at $2.25, which followed a rise from $1.99. Throughout this period, city staff have diligently worked to manage budgets efficiently while maintaining service levels in Bristol.
As council members prepare for further discussions, there are varying opinions regarding the proposed tax increase. While Bourgeois advocates for modest, incremental tax increases, she recognizes the differing perspectives among council members about the necessity and implications of the new tax rate. Nonetheless, she emphasizes that such gradual increases would aid in better budget planning for taxpayers, rather than experiencing large spikes in the future.
As Bristol moves forward, property owners are urged to stay informed about these developments and the potential impact on their property tax obligations, especially as the City Council deliberates on the proposed changes in the coming weeks.
Deeper Dive: News & Info About This Topic
HERE Resources
Bristol City Council Approves Fiscal Year 2026 Budget
Tennessee Corporations Receive $1.5 Billion in Tax Refunds
Elon Musk Opposes Trump’s Tax-Cut Bill Over Debt Concerns
Trump Doubles Steel and Aluminium Tariffs
Tennessee Business Owners Struggle with Rising Swipe Fees
Record Surge in American Applications for British Citizenship
Nebraska Becomes First State to Ban Soda Purchases in SNAP
European Stock Markets End Mixed Amid Economic Developments
Republicans Push Through Tax Cuts and Border Security Plan
Stacked Tariffs Challenge U.S. Importers Amid Trade Truce
Additional Resources
- WJHL Video: Bristol Leaders Considering Tax Hike
- Wikipedia: Property Tax
- WJHL: Bristol City Council Approves Budget
- Google Search: Bristol Tennessee Property Tax Rate
- Herald Courier: Local Government Politics
- Google Scholar: Property Tax Increase Impact
- WJHL: Bristol Tax Increase and Boyd Sports Agreement
- Encyclopedia Britannica: Property Tax
- WCYB: Bristol Tennessee City Council Meeting
- Google News: Bristol Tennessee Property Tax
