Shelby County Mayor Mark Luttrell proposes property tax cut - WMC Action News 5 - Memphis, Tennessee

Shelby Co. mayor proposes a one-cent property tax cut

The tax rate would drop from $4.38 to $4.37 for the majority of the county. The tax rate would drop from $4.38 to $4.37 for the majority of the county.

(WMC-TV) – Shelby County Mayor Mark Luttrell proposed a property tax cut to the County Commission Wednesday.

The proposal comes as Shelby County Schools calls for $9 million to restore cuts to Pre-K classes.

Commissioners on both sides of political lines are commending the mayor on a balanced budget that includes a tax cut.

"I am very pleased," said Shelby County Commissioner Heidi Shafer.

"It's always a plus," agreed Commissioner Melvin Burgess.

Shelby County Commissioners from both parties say the tax cut is critical to keep the county competitive.

Mayor Mark Luttrell credits the tax cut to lower debt.

"The pay down of our debt allows us to do some pretty innovative things," he said.

The tax rate would drop from $4.38 to $4.37 for the majority of the county. That means, if you live in a $150,000 house and now pay $1.642.50 in property taxes, the one-cent tax cut would drop your taxes to $1,639.

For rural residents, the tax rate would drop five cents because they are paying extra money for schools. Taxes on that same house would drop from $1,650 to $1,639.

"With the total reshuffling of the school system deck, we felt we just really needed to eliminate that school bond," said Mayor Luttrell.

The proposal is a preliminary budget. The commission will begin picking through every line of it in the coming weeks. It should be finalized by July 1.

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