Mayor Kim McMillan has released the proposed certified tax rate for property located within the Clarksville city limits.
“I have received notice from the State and Montgomery County of the calculation of the proposed certified tax rate for the City of Clarksville. I have been advised that the certified rate for Clarksville is $1.1832 per $100 of assessed property,” said Mayor McMillan. “This is a drop from the current rate of $1.24.”
The Clarksville City Council will now act, likely in special called sessions, to adopt the reappraised rate.
“Although we were required to wait for the official rate, I have been in contact with the Property Assessor’s office and the State of Tennessee’s Division of Property Assessments for some time about the likelihood of a rate change,” explained Mayor McMillan. “Since we prepared our budget on a revenue neutral basis, I was confident that any predicted change in the tax rate would not affect the City’s annual budget. Our main concern was the timing to adopt a tax rate in compliance with City Code. Since we received this information later than usual this year, the City Council has already adopted an ordinance giving the City an additional two month leeway to approve the certified tax rate. We will now move as swiftly as possible to adopt the tax rate.
The goal of reappraisals, which occur every five years, is to make sure that property owners are only paying a fair share of the costs for public services including public safety, water and sanitation services, and road construction and maintenance. The certified tax rate is then calculated based on these property reappraisals. The reappraisal process is determined by State law and is required of all cities and counties.