Collierville officials estimate that the town will generate more than $38 million from local property taxes in the 2021-22 fiscal year.
The town’s Board of Mayor and Aldermen held a public hearing on Monday to discuss the annual budget.
In 2019-20, the town brought in more than $33 million in property taxes. Town officials also estimate that Collierville will generate around $17.6 million in local sales tax over the next 12 months.
The town earned $17.1 million in sales tax in the 2019-20 fiscal year. Major expenditures on the horizon include $1.3 million for the town’s library, $1.7 million for maintaining facilities, $16.5 million for the town’s police department and $11.4 million allocated for the fire department.
Capital investment projects for 2021-22 include; Sanders Creek bank stabilization ($525,000), Seven Pines sidewalk ($200,000), Wild Bird Lane drainage improvements ($225,000), Sycamore Road realignment ($300,000), carpet replacement at the Collierville Library ($320,000), a robotic athletic field striping machine ($42,000), five ambulance vehicles ($1.8 million), and $2 million for the sewer on Shelby Drive near the new high school.
The town will likely generate more than $4 million from solid waste collection fees and $75,000 from fees associated with the purchase of new waste carts.
The town will adopt the 2021-22 operating and capital budgets at the June 14 meeting of the Board of Mayor and Aldermen.
