Bristol, Tennessee, October 21, 2025
News Summary
Bristol, Tennessee, is reducing its property tax rate by 2.5 cents following the failure of a proposed stadium project. The city council unanimously approved the change, lowering the rate from $1.87 to $1.845 per $100 of assessed value. This decision comes after significant tax increases earlier in the year and reflects the council’s effort to adapt to the community’s concerns regarding rising taxes. The new tax rate will take effect in 17 days and follows budget cuts meant to offset the impact of the cancelled stadium proposal.
Bristol, Tennessee, is set to lower its property tax rate by 2.5 cents per $100 of assessed value. The city council unanimously approved the tax decrease in response to the failure of a proposed stadium project intended for the Bristol State Liners baseball team in Bristol, Virginia. This decision comes after a previous controversial increase in property taxes.
The new property tax rate will be $1.845 per $100 of assessed value, dropping from the recently elevated rate of $1.87, which was implemented following a 21% property tax hike approved in June. The reduction will take effect in 17 days from the council’s decision.
Mayor Vince Turner had previously announced a plan to fund a new stadium in Bristol, Tennessee, through a $5 million bond, which was projected to require approximately 2.5 cents per tax dollar. However, those plans fell through, leading to the need for a tax decrease to offset the proposed tax increase aimed at generating additional revenue for the now-failed stadium project.
Despite the passing of the budget that included the tax increase, the city is now faced with procedural issues due to the timing of the tax decrease, as this comes after the October 1 due date for property taxes. City staff will need to address potential refunds and other related matters.
In response to the failed stadium project and the tax increase, the budget cuts implemented included a hiring freeze, as well as the postponement of capital equipment purchases and projects. Any non-essential open positions under the new budget plan will not be filled.
During the city council meeting when the vote took place, Councilwoman Feierabend was not present, but the outcome of the vote reflected the council’s consensus on the need for a tax reduction in light of the recent developments.
The past budget, which included an earlier proposal for a 30% increase that was ultimately rejected, highlighted the community’s concern over rising tax rates and its financial management. The current adjustment shows the city’s commitment to adapting its fiscal strategy following the failure of significant planned developments.
Key Facts Summary
- New property tax rate: $1.845 per $100 of assessed value.
- Decrease of 2.5 cents per $100.
- Effective in 17 days following the council’s decision.
- Previous tax rate was $1.87 after a 21% increase.
- Failed plan for a $5 million stadium funding through bonds.
- Procedural issues due to the timing of the tax decrease.
- Budget cuts included hiring freeze and delay of capital projects.
Background Context
The city had been grappling with increasing property taxes in recent months, notably with a significant 21% tax hike that raised rates from $1.54 to $1.87 per $100 of assessed value. This adjustment came after an earlier proposal for an even larger increase of 30% was rejected. Communities in Bristol were concerned about the impact of rising taxes on local residents and businesses, prompting the city council to shift its strategy following the stadium project’s failure.
FAQs
What is the new property tax rate in Bristol, Tennessee?
The new property tax rate will be $1.845 per $100 of assessed value.
When will the new tax rate go into effect?
The new tax rate will go into effect in 17 days following the council’s decision.
What prompted the property tax rate reduction?
The property tax rate reduction was approved after a proposed stadium project failed.
What was the previous property tax rate before the reduction?
The previously approved tax rate was $1.87 per $100 of assessed value after a 21% increase in June.
What budgetary measures were implemented alongside the property tax increase?
The budget included a hiring freeze and delays in capital equipment purchases and projects.
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Additional Resources
- WJHL: Bristol, TN City Council Lowers Property Tax Rate
- Wikipedia: Property Tax
- WCYB: Bristol Tennessee City Council Approves Property Tax Increase
- Google Search: Bristol Tennessee Property Tax Update
- WJHL: Bristol, TN City Council Rejects Proposed Property Tax Increase
- Google Scholar: Property Tax Rates Bristol, TN
- WCYB: Bristol Tennessee Votes for New Proposed Budget
- Encyclopedia Britannica: Property Tax
- WCYB: Bristol, Tenn to Lower Tax Rate
- Google News: Bristol TN Property Tax News
