NASHVILLE, TN (WSMV) - Metro Council discussed raising property taxes last year, but it didn’t pass. Now some are saying it’s time for the difficult conversation.
“We cannot take a tax increase off the table. We have to talk about it,” said Metro Council member Zulfat Suara, an at-large council member.
Suara is concerned that Metro already had to cut $5 million from a fun set up for affordable housing.
“To just say cut, where? If we keep cutting, we’ll be cutting from schools,” she said.
If Metro raised property taxes by 25 cents, here’s how it would affect you:
If you live in the general services district and your house is worth $250,000, you would be paying about $171 more per year.
A tax increase could especially impact homeowners in areas like East Nashville, north Nashville, 12 South and The Nations where home values have soared.
For example, one house on Kentucky Avenue that was worth $220,000 in 2010 was reappraised in 2017 and is now worth $346,000. The taxes went from $1,574 to $2,735.
But taxes didn’t go up for everyone, according to the Metro Trustee’s office.
In areas like Forest Hills and Green Hills, where values were more stable, some people had a tax decrease.
Homeowners might be able to get help from Metro’s Tax Freeze program if you’re 65 or older making less than $42,620 a year.
“Whatever your tax bill is today, that’s what it stays as long as you live in the house and you’re the owner, the tax bill will stay the same,” said Metro Trustee Parker Toler.
The deadline is Feb. 29 to apply for that tax freeze.
There’s another tax relief if your income is less than $29,860 per year and you’re 65 or older or disabled. You can get state and Metro funds to help pay your property taxes.
Click for information about tax relief and tax freeze programs in Davidson County.