NEW CITY BUDGET APPROVED, NO TAX INCREASE
The Crossville City Council approved the proposed yearly budget and tax rate for the 2025 – 2026 fiscal year last night at their monthly meeting.
City Finance Director Nathan Clouse said at last week’s work session that he wouldn’t request any increases in the tax rate this year, and as a result, the city’s tax rate will remain at .6059.
A city’s tax rate is determined by its revenue needs for services like police, schools, and infrastructure, balanced against state regulations, economic conditions, and property values. A diverse tax base, high property values, or intergovernmental aid can allow lower rates, while debt, declining populations, or inefficiencies may push rates higher.
Thankfully, this year it seems that will not happen.