Property tax rates are already expected to go up in local cities and counties because of an unprecedented drop in property assessments.

And additional increases have been approved or are anticipated in budgets that have already passed in Anderson County, Clinton, Oliver Springs, Roane County, and Rocky Top.

Oak Ridge could be the exception. The city could see an increase in the certified tax rate (state officials call it a tax-neutral rate) from $2.39 per $100 of assessed value to $2.52.

So far, no Oak Ridge City Council members have publicly endorsed raising taxes beyond the change in the tax-neutral rate required by the five-year reappraisals completed this year.

Four City Council members, a majority of the seven-member body, said during a budget work session on Tuesday that they will support the $2.52 tax-neutral rate or that it’s important to stay at that rate for now, until they have more information. [Read more…]