The Knoxville City Council held a public hearing Monday and approved the Maximum Property Tax Dollars for fiscal year 2022/2023. Knoxville City Manager Heather Ussery says how it will affect Knoxville citizens.

“The current levy for Fiscal Year 2022 is 18% but for the upcoming year it will be 17.33% so there will be a decrease in the city portion of property taxes for the upcoming year because we saw the valuation increase but we are not increasing the requested dollars spent. When we talk about the importance of the city growing and our property tax growing that helps with the city budget because it’s spread across additional property owners. With this we are able to request the same amount and recoup additional funds because of the increased tax base.”

For more details on the levy, tune in to Thursday’s Let’s Talk Knoxville.