LAFOLLETTE, TN (WLAF) – “A pretty healthy increase” is how one property assessor professional described the City of La Follette’s intent to exceed the Certified Tax Rate (CTR). The reappraised CTR for La Follette is $1.1318 per $100 of assessed valuation. The city’s proposed 2019-20 budget, if adopted, will require a proposed tax levy of $1.2950 per $100 of assessed valuation.
On a home appraised at $50,000, the owner would pay an additional $20.38 a year if the property tax increase passes. A home appraised at $100,000 comes out to an annual increase of $40.75.
The City of La Follette will conduct a public hearing on Thursday, June 27, at 9 am, at city hall on the city’s intent to exceed the CTR. That hearing will then segue into the adjourned-in-session city council meeting from earlier in June. In that meeting is when council will vote to increase or not to increase city property taxes.
La Follette Mayor Mike Stanfield told WLAF he thinks that council will pass the property tax increase. However, Stanfield said, “I’m not for raising taxes.” (WLAF NEWS PUBLISHED – 06/26/2019-6AM)