MEMPHIS, TN (WMC) - Memphis suburbs are looking to cut costs from the budget and possibly increase taxes.
Collierville's mayor and board of alderman are expected to hold a work session this week to come up with effective ways to generate the money and eliminate the $500,000 shortfall.
Mark Heuberger said Collierville's leaders are committed to not forcing residents to pay a tax increase this year.
Heuberger is Collierville's Public Information Officer. He said the city is bracing for impact after state lawmakers cut funds to the municipality. He also said Collierville is looking at ways to prepare for 2022, which is when the Hall Tax (a tax on investments that went to local governments) will end.
Bartlett mayor Keith McDonald said Bartlett is talking about utilizing a $0.35 property tax increase to pay for $60 million in improvements to Bartlett High School and to hire more police officers.
That tax increase would cost most people in Bartlett about $175 every year.
In Germantown, leaders are proposing a $0.23 property tax increase to pay for new school facilities and offset the Hall Tax loss.
That would cost most people in Germantown $178 every year.
"It seems like our property taxes keep on going up a lot," Jennifer Fisher of Germantown said.
Germantown leaders said they'll have to pay at least $25 million to either buy the namesake schools from SCS or to build a new one.
Fisher said education is worth it to her.
"I know our schools are real important, and I've got a lot of grandkids coming up in the schools," Fisher said.