By Graham Sweeney
Collierville officials plan to keep the town’s property tax rate unchanged for the 2023 fiscal year.
The Board of Mayor and Aldermen unanimously voted on Monday night to leave the rate at $1.72 per $100 of assessed property valuation.
The vote was held on first reading, with second reading coming on May 23 during a public hearing and a complete presentation of the town’s budget.
The proposed rate for Germantown is $1.67 for every $100 of assessed value. The Germantown Board of Mayor and Aldermen also voted for the rate on first reading Monday night.
Although Collierville and Germantown managed not raise rates for the 2023 fiscal year, some of the other municipalities still boast lower rates overall.
Arlington, for example, appears to currently be at $1.37 for every $100 of assessed value.
The city of Lakeland is even lower at $1.04.
The Collierville property tax rate was lowered to $1.72 in 2021, an 11-cent reduction from $1.83.
Under the current rate, a home in Collierville valued at $200,000 will pay about $3,400 in property taxes.
