Oak Ridge Today

New Roane tax rate could mean another $95 for OR homeowner

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David Morgan

David Morgan (File photo/2012)

The new certified property tax rate and tax rate increase in Roane County could cost the owner of a $100,000 home in Oak Ridge another $95 per year, according to data provided by the Roane County property assessor.

That’s a 19.29 percent increase, according to the information from Property Assessor David Morgan. Here’s the breakdown of the increase: 4.37 percent was due to the increase in the state-certified rate—Tennessee officials call it a tax-neutral rate—and 19.29 percent was due to the 29-cent increase approved by the Roane County Commission on Monday and anticipated in a budget passed in July.

The tax-neutral rate in Roane County went up because the total overall property assessment went down 3.47 percent. The tax-neutral rate is the rate meant to bring in the same amount of revenues after a reappraisal as before. If the overall property assessment goes down, the tax-neutral rate goes up, and vice versa.

The additional $95 per year assumes the property assessment stayed the same, at $100,000, in the five-year reappraisals completed this year. [Read more…]

City budget raises trash fee, provides more for city infrastructure

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Oak Ridge City Council on July 28, 2015

The Oak Ridge City Council raised the trash pickup fee by $3.50 during a special budget meeting on Monday, July 27, 2015, and the Council set aside an extra $260,000 for capital projects such as buildings and schools. (Photo by John Huotari/Oak Ridge Today) 

 

Note: This story was last updated at 10:05 a.m. July 28.

There will be a $3.50 increase in the monthly trash fee, and more money—$260,000—will be reserved for capital projects such as buildings and schools, while city officials are not expected to change the new property tax rate provided by the state after five-year reappraisals completed this year.

The trash fee will increase from $7 to $10.50 per month. That change is expected to provide another $335,000 per year in revenue.

The new tax rate—state officials call it a tax-neutral rate—is $2.52 per $100 of assessed value. It was approved in the first of two readings by the Oak Ridge City Council during a three-hour special meeting on Monday. The second reading hasn’t been scheduled yet, but the meeting is expected soon. [Read more…]

City proposes one-cent tax rate increase; schools’ request would add seven

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Mark Watson

Mark Watson

Note: This story was last updated at 3:18 a.m. June 2.

The budget proposed by the Oak Ridge city staff on Monday includes a one-cent increase in the property tax rate. It would help maintain city services and allow for a 2 percent pay raise for city employees, Oak Ridge City Manager Mark Watson told City Council members.

Meanwhile, the budget proposed by Oak Ridge Schools asks for the equivalent of a seven-cent tax increase. It would help cover a deficit and add money for salaries and staff, including a 3 percent pay raise. That budget has already been approved by the Oak Ridge Board of Education.

The two requests total eight cents. They were presented to the Oak Ridge City Council on Monday.

It’s not clear yet if the seven-member City Council will agree to any increases for the city or schools. The Council will consider the budget in the first of two readings on Monday, June 8, and on second and final reading on Monday, June 15. [Read more…]