NASHVILLE, Tenn. - Under a proposal the Metro Council will be debating Tuesday, the Metro Property tax rate could increase by 49 or 50 cents, depending on what part of the county a home is located in.
The proposal would help fully fund Metro Schools, as well as fulfill a raise for city workers – both things that Mayor Briley’s current proposed budget does not include.
For a home assessed at $250,000, property taxes would increase by $312.50 per year for homes in the Urban Services District – much of the central part of Davidson county, including downtown, Green Hills, East Nashville, Madison, Donelson and Antioch.
A $250,000 home elsewhere in Davidson county – in places like Hermitage, Old Hickory and Bellevue – would fall in the General Services District, and would pay an additional $306.25 per year in property taxes.
The new General Services District tax rate would increase from $2.755 to $3.245 per $100 of assessed value, and the new Urban Services District tax rate would increase from $3.155 to $3.655 per $100 of assessed values.Here is a link to help you calculate how much extra you would pay in property taxes, under the tax increase proposal.