I have reviewed your budget proposals and would like to share my thoughts for consideration in your final deliberations. I should clarify that because our charter forbids City Council, as a body, from “modifying or deleting any item in school estimates,” my statements do not reflect the opinions of my fellow council members.
As you know, we are blessed to live in a community that actively and generously supports education. Not only do we rank fifth in the state for our level of local funding (54 percent), but, at $12,075 per pupil, we continue to outspend the state average of $9,293 and the national average of $11,068.
Our generosity, however, has taken a toll that we can no longer ignore. Having the third highest tax rate ($4.74) in the area has been counterproductive to attracting new residents. One need only look to the phenomenal growth in Farragut, whose property tax rate is less than half of ours ($2.32), to appreciate the negative impact of our high taxes. [Read more…]