Memphis city councilman claims residents are now being overtaxed - WMC Action News 5 - Memphis, Tennessee

Memphis city councilman claims residents are now being overtaxed

(WMC-TV) - A member of the Memphis City Council says that residents are being overtaxed after last week's property tax increase.

Councilman Harold Collins said he ran the budget numbers with council staff and the $3.40 tax rate is five cents higher than necessary.

"After reviewing all the numbers, we found that the number is actually $3.35," said Collins, who took his concerns straight to the mayor.

"My question is to the administration ... What are you going to do with that extra $7.5 million in revenue?" said Collins.

Mayor A C Wharton says the suggestion that the city has a slush fund is absurd.

"There's not money sloshing around that we don't know what to do with," he said.

Council Chairman Edmund Ford, Jr. backed up the mayor. He says the state comptroller demands that the city pay off future debt and that is where the money is going.

"The $3.35 tax rate that passed would not be enough to pay the debt," said Ford.

When all was said and done, Councilman Collins said he felt satisfied with the administration's response. He said it is important to keep the city accountable.

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