LA VERGNE, Tenn. – City officials in La Vergne said property taxes would decrease by 2.5 percent in the fiscal year 2015-16.
The board approved the general fund budget of $17,787,570 Tuesday. The budget was to fund day-to-day operations and emergency services such as police, fire, city court, tax department, and others.
The property tax decrease meant the tax rate would change from $1 per $100 in assessed value to $.975 per $100.
That’s a total decrease of $200,000 in residential property tax collections.
“When you live on a month to month income, every penny saved helps,” said Mayor Dennis Waldron. “We are also looking to not increase our water and sewer rates this year so we can provide some budget relief to residents and businesses.”
City officials said no rate increase was needed in the fiscal year 2015-16 budget for water and sewer based on findings from the Tennessee Municipal Technical Advisory Service; however, they added the water and sewer rate would need to increase by two percent in 2016-17 and again in 2017-18 to remain in good standing with the state.