Yesterday afternoon, I spoke with members of the Rotary Club of Nashville about important priorities of my administration over the next year.
One of the issues that affects all Nashvillians is affordability. With property values rising quickly, this year's property reappraisal will hit some harder than others, which is why I have committed to submitting a budget to the Metro Council that will not include a property tax increase.
Following the reappraisal, indications are that the certified tax rate could be at or near the lowest levels in the history of Metro. However, property owners whose values increase more than the countywide average will be paying more in taxes than they used to, while those whose values increases less than the average will be paying less than they used to, as the state requires this to be a revenue-neutral process. Seniors, veterans, and disabled Nashvillians who meet certain criteria may be eligible to participate in tax freeze or relief programs through the Trustee's Office.
You will also see changes in how Metro determines stormwater fees. Rates haven't increased since 2009, but the cost of managing stormwater has, significantly. Modernizing the fee structure will protect the investments we've already made in stormwater infrastructure, and allow us to fund new solutions. We are proposing a more equitable fee structure, whereby the rates of smaller homes and businesses will be frozen, and properties with larger impervious structures will pay more for the water runoff they create.
Take some time to learn more about the property reappraisal and stormwater modernization initiative.